Mortgages Closed per Closer
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 Mortgages Closed per Closer. 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 Mortgages Closed per Closer?
The total number of mortgage loans closed (i.e., funded) by the company over a certain period of time divided by the average number of mortgage loan closers working for the company over the same time period.
Why should Mortgages Closed per Closer be measured?
Mortgages Closed per Closer measures the average productivity (i.e., volume per employee) of, and workload placed upon, each individual loan closing employee. Loan closing employees are typically responsible for preparing all loan documentation (e.g., borrower credit information, appraisals, tax documents, etc.) for closing, as well as prepping loan documentation for loan servicing, or sale to investors. A relatively high value for this metric should be sought after, which would indicate that the lending institution is appropriately staffed within the loan closing function. This should, however, be weighed against various work standards (e.g., error rates, missing loan documentation, etc.) to ensure that the loan closer work quality is not suffering due to extreme work volumes. Items such as standardized loan documentation checklists and automation of highly manual, repetitive tasks (e.g., data entry, etc.) can improve loan closing productivity and work quality.
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