This workflow template illustrates the generation and review of new loans and their subsequent maintenance (loan information updates), payments and payoffs. Purchase and download this template in PDF, Visio (VSD), PowerPoint (PPT) formats. You can customize it to fit your own organization, or simply use it to better understand the Loan Servicing process.
Related KPIs : Consumer Loan Pull-Through Rate, Loan Boarding Error Rate, Number of Touchpoints: Mortgage Loan Processing
What is Loan Servicing?
The Loan Servicing process involves the generation and review of new loans and their subsequent maintenance (loan information updates), payments and payoffs. This process includes loan package transmission (loan officers should ensure that all required information is available processing the loan), borrower debt verification, compliance review, initial payment and the processing of loan payoff requests (archive all loan information once payoff is completed). Due to the multitude of loan options out there, ensure that any customer who asks for a loan is informed on what is available, and on the loan procedures themselves.
Download a Sample Loan Servicing
Frequently Asked Questions
Q: How do you create your Workflow Templates?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.
Q: What can a Workflow Template do for me?
A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!
Q: What’s in the box when I buy one?
A: Three handy versions, all in one zipped file. It’s yours to download immediately upon purchase, and includes your chosen Workflow Template in PDF format, plus Microsoft PowerPoint (which you can edit), and Visio (which you can also edit).
Q: Your download-able templates look great. But I need something custom. Can you help?
A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us (firstname.lastname@example.org) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
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