National Mortgage News: How Lenders Plan to Shrink Loan Timelines for Spring Buyers

Since Quicken Loans launched its Rocket Mortgage platform five years ago at Super Bowl 50, the industry has generally sought to emphasize a speedy, high-tech experience when funding homebuyers’ time-sensitive loans. Flash forward to the present day, when the need to work remotely during a pandemic is testing the industry’s digital operations…. Purchase loans that take longer than 90 days do measurably hurt customer referrals, according to Garth Graham, senior partner at the STRATMOR Group. When these rose to 7% in the fourth quarter of 2020 from 5% 2Q20, net promoter scores dropped from 73 to 67, STRATMO found. That’s why lenders are investigating where an otherwise speedy pre-closing loan process is getting jammed up. This is what they found.

Would you like to speak to STRATMOR about our services? Contact us today!

What Our Clients Are Saying

The STRATMOR Group has the competency and discipline to assess current performance metrics relative to industry peers, and the experience to provide thoughtful considerations to maximize your mortgage team's future opportunities.
Andrew Guzzo - Chief Banking Officer and President, Merchants Bank
Absolutely loved our experience with STRATMOR. Every member of the team is knowledgeable, responsive and kind. Every aspect of the project was managed well, and we were delighted with the final results. I honestly can't say enough good things about the team and the service they provide!
Michael Murphy - Product Marketing, Reggora
The STRATMOR Team is highly professional, collaborative, and very responsive. The partnership began with the STRATMOR Team thoroughly understanding our needs, perceived issues, and potential problems. STRATMOR brought expertise to the table at every turn, and their solutions were sound and executable.
John Stocchetti - EVP, Group Head, Mortgage Partnership Finance® Program, FHLB Chicago
Through a fast-paced yet comprehensive dive into our Consumer Direct Division, STRATMOR helped Arvest chart the course to the next level. They understood our technology-minded goals and listened to our customer-focused priorities, to provide a highly actionable strategy document to help us navigate the path to even greater success.
Shawn Karnes - Executive Director, Mortgage Sales and Development, Arvest
Any bank struggling to make mortgage lending work should contact STRATMOR. They can help put together a strategy to improve efficiencies and profitability to make mortgage banking successful. And, if you already have a good mortgage lending team, STRATMOR can help identify ways to take it to the next level.
Paul Peterson - SVP, Director of Mortgage Banking, Glacier Bancorp Inc.

ABOUT US

Need Help?

National Mortgage News: How Lenders Plan to Shrink Loan Timelines for Spring Buyers

Need Help?

What Our Clients Are Saying

How Can We Help?

Site Map