Mortgages Closed per Secondary Employee
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 Secondary Employee. 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 Secondary Employee?
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 secondary mortgage lending market employees working for the company over the same time period.
Why should Mortgages Closed per Secondary Employee be measured?
Mortgages Closed per Secondary Employee measures the average number of mortgage loans funded by the lending institution relative to the number of secondary loan marketing, reporting and sales employees. This metric is a good measure of the workload placed upon, and the productivity of, secondary mortgage employees. These employees are tasked with preparing, pricing, marketing and selling mortgages originated by the institution to investors (i.e., other institutions that purchase mortgage loans to service and/or re-sell them). A relatively low value for this KPI may indicate that the bank's secondary lending function is overstaffed, and/or bogged down with a high volume of manual work (e.g., data entry, etc.), error correction or missing loan documentation. A major driver of low-value work within the secondary lending function is incomplete or missing information regarding recently closed loans (i.e., poor inbound data quality).
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