Mortgage Pull-Through Rate

Benchmarking Report

Mortgage Pull-Through Rate

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 Pull-Through Rate. 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 Pull-Through Rate?

The number of mortgage loans that are approved, closed and funded by the institution divided by the total number of mortgage loans applied for over the same period of time, as a percentage.

Why should Mortgage Pull-Through Rate be measured?

Mortgage Pull-Through Rate, or Loan Application Conversion Rate, measures the percentage of loans applied for that are closed and funded by the lending institution. This KPI is an important measure of efficiency, potential wasted effort and overall customer service levels within the mortgage lending function. Pull-Through Rate is typically seen as a lagging indicator of inefficiencies within the mortgage origination process. Factors that can lead to a low value for this metric include extended cycle times (for underwriting, borrower data collection, closing, etc.), a lack of transparency within the lending process (i.e., borrower does not know what the status of their loan is at any given point in time), excessive underwriting touch points, and lack of competitive rates and incentives for potential borrowers. Low Pull-Through Rates lead to excessive low-value work for loan officers (i.e., spending time on loans that never close) and other origination staff (e.g., loan underwriters, processors), which negatively impacts overall production.

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