Mortgage Applications per Processor
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 Mortgage Applications per Processor. 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 Mortgage Applications per Processor?
The total number of mortgage loan applications submitted by potential borrowers through all channels (e.g., phone, branch, web, etc.) over a certain period of time divided by the average number employees responsible for processing mortgage loan applications over the same period of time.
Why should Mortgage Applications per Processor be measured?
Mortgage Applications per Processor measures the productivity of individual mortgage processors, as well as the overall efficiency of mortgage application processes. As one would expect, lending institutions that collect the majority of their applications through the internet (i.e., borrowers complete application online or through a mobile application) will, naturally, achieve higher values for this KPI due to automation. Processing productivity must also be weighed against the quality (i.e., completeness, accuracy, etc.) of incoming application data and borrower documentation. A lack of transparent loan document checklists, complex or poorly communicated loan application forms and requirements and a lack of attention to detail amongst loan processors can greatly diminish application processing productivity and data quality.
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