Business Outcomes model enhances conversion rate in Mortgage Origination

iTOPS for Mortgage Origination reduces origination cost by 50% and increases conversion rate by 11%


The Challenge
Client’s existing mortgage origination process lacked automation and integration with third party data providers. The process took up to 45 days to approve a new application and cost $1600 per funded loan. The long processing time was also leading to loss of business as some customers were moving to competitors offering faster service, resulting in only 50% of applications getting funded. The client’s operating margin was under pressure due to high fixed cost of technology and people needed for processing the loans.

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The Solution
We provided the Integrated Technology and Operations (iTOPS) solution for mortgage loan origination. The iTOPS solution includes loan fulfillment platform integrated with key internal and external systems as well as end-to-end loan processing services. The mortgage iTOPS solution was structured as a Business Outcomes project where:

  • Client paid only for the business outcome it wanted – a funded loan. If no loan was funded, the client would not need to pay anything to us.
  • Client did not make any investment in technology or process improvement – we made all the investments.
  • Our experienced loan processing team, licensed to operate in all 50 states, was able to close loans faster and  cost-effectively with the best-in-class technology and processes of iTOPS solution.
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The Benefits

  • Reduced cost per funded loan by 50% due to automation and better process.
  • Converted the fixed cost associated with loan processing into a variable cost that scaled up or down with number of loans funded.
  • Faster loan processing increased the conversion rate from applications to funded loans by 11%, resulting in more business from same pool of applications.



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