Loan Processing Specialist – Outsourcing

Loan Processing Specialist Oursourcing

Outsourcing loan processing services involves sending certain tasks associated with loan packaging and processing to someone who is external to your company, often overseas in locations such as the Philippines.

An outsourced loans processor is involved in all of the repetitive, admin-related tasks associated with processing a loan – from packaging to settlement and even post-settlement. This will allow your broking team to focus on more revenue generating work such as building client relationships and generating more leads.

Loans processors can complete an array of tasks, including but not limited to:

  • Set-up of loan application and data entry in CRM
  • Collect, verify and follow-up supporting documents
  • Prepare loan serviceability calculators
  • Order property valuations
  • Prepare and follow up discharge forms
  • Prepare compliance documents
  • Finalise complete loan file and lodge with lender
  • Track loan through to settlement
  • Regular follow-up with valuers, lenders and mortgage solicitors with status update reports
  • Notification of loan approval
  • Complete settlement checklist
  • Post settlement activities

Mortgage brokers are outsourcing loans processing to offshore locations so that they can free up their time to nurture client relationships and generate new business. This is becoming increasingly important in the current economic climate, where brokers need to become more agile to respond to an ever changing, increasingly competitive market.

Is your organization looking to outsource a Loan Processing Specialist? We offer free consultations to help you identify the best ways outsourcing can help your business. Contact us today for more information.