Mortgage Lending Improvement

Zach,
Some ideas:-
1. Originations (Underwriting, Conveyance, Valuation processes) – look at what’s driving turnaround time – from receipt of a customer application to the transfer of funds. Expected drivers could be forms incorrectly filled, parts of application missing, backlogs in the processes etc.
2. Servicing of mortgage loans – what is driving customer redemptions? (where customer may transfer to different lender). Business goal is to increase originations and reduce redemptions to grow the size of your mortgage book.
3. IT/Internaet technologies – Online applications for Brokers and borrowers, Document imaging for mortgage application packs, document workflow, auto bank reconciliations for borrower payments etc.
The list could go on…. Take a look at the Council of Mortgage Lenders website http://www.cml.org.uk. It has some good research and consumer information which will explain the process from a customer view point (which is a good way to initially look at it!). Also explains terms such as Conveyancing, Valuation etc.
Also I would advise that when applying to Mortgage Lenders that you ask for information up front (before interview). Good luck!

Hi, Budget is a document which documents the Plan of the business, This may include the objective of business, Targets set, and results in financial terms, e.g. The target set for sale, resulting cost, growth, required investment to achieve the planned sales, and financing source for the investment. Also Budget may be long term or short term. Long Term have a time horizon of 5-10 years giving a vision to the company, short term is an annual budget which is drawn to control and operate in that particular year.==================================sharoo