Unit Cost: Mortgage Loan Origination

Benchmarking Report

Unit Cost: Mortgage Loan Origination

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 Unit Cost: Mortgage Loan Origination. 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 Unit Cost: Mortgage Loan Origination?

The total cost of mortgage loan origination operations, including sales/business development, application processing, underwriting, and closing labor, technology and other overhead costs, divided by the total number of mortgage loans originated (i.e., closed) over the same period of time.

Why should Unit Cost: Mortgage Loan Origination be measured?

Unit Cost: Mortgage Loan Origination measures the average operating expense incurred by the lending institution to originate (i.e., close and fund) a single mortgage loan. Higher than average overhead within the origination process negatively impacts production profit per loan, and may be attributed to several common root causes - 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 low mortgage pull-through rates can combine to have a significant impact on mortgage origination costs. These factors also diminish customer service levels and overall profitability, placing an increased importance on identifying and implementing process improvements to overcome these issues.

Download a Sample Unit Cost: Mortgage Loan Origination

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