Loan Servicing

Workflow Template

Loan Servicing

Workflow Template

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

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