Commercial Loan Application to Underwriting Decision Cycle Time
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Commercial Loan Application to Underwriting Decision Cycle Time. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Commercial Loan Application to Underwriting Decision Cycle Time?
The number of calendar days required to reach initial underwriting decisions on commercial loans, measured from the time the initial application is received from the potential borrower until when the adjudication decision has been made by the underwriting, or risk management, function.
Why should Commercial Loan Application to Underwriting Decision Cycle Time be measured?
Commercial Loan Application to Underwriting Decision Cycle Time measures the number of calendar days required to determine initial underwriting decision on a commercial loan, from the time that the application for the loan was received. Measuring Commercial Loan Application to Underwriting Decision Cycle Time is important to not only understand the performance of internal loan operations but to also understand the service levels provided by financial institutions to customers and the resulting levels of customer satisfaction. Extended cycle times can occur for any number of reasons, including multiple touchpoints within the application and underwriting processes (typically due to missing or incorrect information or documentation), a lack of communication between teams or with customers concerning the status of the loan, unclear commercial loan requirements, poor underwriter performance, or inconsistent training/use of job aids during processing.
Download a Sample Commercial Loan Application to Underwriting Decision Cycle Time
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