Suma Soft predicts 3 Underwriting Outsourcing trends for 2022…
December 16, 2020
For over 20 years, Suma Soft has been the most preferred Mortgage Underwriting Support Services provider. With an underwriting team of 850+ underwriters, industry-specific knowledge, and practical experience of more than 20 years, Suma Soft’s team offers end-to-end mortgage processing, underwriting, closing, and risk management.
We understand exactly why CEOs outsource their tedious in-house underwriting processes. We have helped many CEOs attain minimal TAT with maximum revenue benefits across various stages of the mortgage loan process.
We predict the below Three trends for Underwriting outsourcing in 2022 that will definitely add value and deliver better performance by 200%
Security Is Key
The mortgage industry requires high data security as this involves handling confidential documents. The slightest breach of security can cause any business to shut down. So the decision to outsource your in-house mortgage loan processing is extremely critical.
Look for a provider with basic PCI DSS compliance along with ISO Certifications for strict Quality.
Cost of Operations Reduced By 4X after hiring
Setup cost is very high in the mortgage industry as they have to keep track of documents and regular follow-ups are necessary. Offshore mortgage BPO companies utilize workforce management tools to help reduce cost by 4X with relative industry experience. This also gives mortgage companies a competitive advantage over their competitors.
Offshore Mortgage Underwriting Support Services companies should provide all forms of communication for enhanced customer satisfaction with 24×7 Support.
Your outsourcing partner should also assist in the entire mortgage process, from a collection of documents to organization and evaluation before it has to be finally submitted for underwriting processes.
The Suma Soft Advantages
We use a workforce CRM tool that helps reduce TAT for any mortgage application
Help streamline loan underwriting process with minimum operational costs
Improved customer satisfaction with 24X7 support
Industry-specific expertise for more than 20 years, to deliver better cost benefits that give mortgage company a competitive edge
SO 9001:2008 certification company for Quality Management certificate & PCI DSS Compliant
Our capabilities help clients scale up their operations by deploying flexible offshore resources to meet day-to-day processing needs and automating systems at reduced TAT.