from a partner you can trust.
The most trusted choice is a mortgage lender with staying power
Innovation and change are transforming the lending experience for our
customers, while our products, relationships, and culture form a mortgage
brand with staying power. Our sustained commitment to mortgage
lending leadership is matched by our recognition as a World’s Most Ethical
Company® by the Ethisphere Institute, three years in a row. Partner with us
as we blend what works in mortgage lending with what’s to come.
Recognized by Freddie Mac as one of the top originators of Freddie Mac
Home Possible® mortgages.
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“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC. This document is not a Consumer Credit
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by Regulation Z. Please consult the Seller Guide on our website for more details ( https://sellus.usbank.com). Loan approval is subject to credit approval and program
guidelines. Not all loan programs are available in all states for all amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to
learn more about U.S. Bank products and services. Mortgage and Home Equity products are offered by U.S. Bank National Association. Deposit products offered by
U.S. Bank National Association. Member FDIC ©2017 U.S. Bank. 17-1038-B (12/17) CR-14938570
U.S. Bank overview
• 6th largest
• 5th largest U.S.
commercial bank with
more than $416 billion
in assets and a loan
portfolio of $255 billion
18. 5 million customers
• Available in all 50
“Mortgage originators and lenders are now
recognizing the value of winning customer
loyalty and the positive impact that it can
have on sales pipelines.”
<< Operations continued from Page 110
approval process. There are many reasons for adopting such a goal, but the
overarching objective is to promote
high efficiency in underwriting.
KPIs also can be established as a
measure of operational efficiency in
the area of clear-to-close (CTC) performance. The focus could be on increasing
the percentage of loans that are cleared
for closing seven days in advance of the
scheduled closing date. Loans cleared
to close seven days out should create
higher levels of satisfaction among
borrowers, Realtor partners and originators, compared with loans that simply
meet the existing requirement for a delivery of a Closing Disclosure form three
days prior to closing.
Track the seven-day CTC percentage daily, monthly and annually. When
most loans are cleared to close seven
days in advance of the deadline, it’s
far easier to accommodate those occasional deals that require more time.
Another key metric to track that is tied
closely to the CTC is the percentage
of loans for which the government-mandated Closing Disclosure form
goes out five days in advance of closing.
The mortgage industry is transactional
in nature. Over the years, originators
have focused on managing transactions: originating loans and putting
families in houses. Mortgage originators and lenders are now recognizing
the value of winning customer loyalty
and the positive impact that it can have
on sales pipelines.
The operations department is in a
perfect position to support this loyalty,
because it’s the team that delivers on
the promises the real estate agents
and loan originators are making. Experienced lenders understand this and
empower their operations teams with
the proper tools and metrics while, at
the same time, skilled originators tend
to gravitate toward companies that
embrace this approach. ■
that train their employees to meet
actual customer needs, as opposed to
just the requirements for a specific
process, will support the building of
stronger relationships and a better
Third, lenders must put an emphasis
on measuring and monitoring key performance indicators (or KPIs). It is very
difficult to improve efficiencies, or any
process for that matter, without the
right metrics in place. After all, you cannot manage what you do not measure.
Successful companies know what
metrics to monitor and how to utilize
those data points to hold employees
accountable for the numbers they are
generating. This accountability breeds
efficiency and excellence.
Among the numerous metrics that can
be tracked, for example, is underwriting touches. A company could set a goal
that their underwriters do not touch
a loan file more than twice during the