The Challenge
Operational Challenges: Overcoming Manual Process Inefficiencies
Our client is one of the top mortgage lenders in the United States, with a presence in 130 local branches across 49 states. Over nearly three decades, the company has built a reputation for exceptional customer service and expertise across diverse mortgage products.
The client’s reliance on manual processes in their underwriting appraisal reviews created significant roadblocks, including:
Time-Consuming Tasks: The manual review process involved repetitive steps, prolonging loan cycle times and delaying decision-making.
Prone to Errors: Manual data entry and verification introduced a higher risk of defects, impacting loan quality and compliance accuracy.
Higher Costs: Inefficiencies in the process increased operational expenses, reducing the client’s ability to scale effectively.
These challenges hampered the client’s ability to deliver seamless customer experiences, crucial in a competitive industry.
The Outcome:
Revolutionizing Mortgage Underwriting with a Digital-first Approach
Sutherland’s Certified Residential Underwriters (CRU) partnered closely with the client’s technology team to craft a future-focused strategy for automating and streamlining the appraisal review process. Leveraging Sutherland’s proprietary tools—Extract.ai, an AI-powered Intelligent Document Processing platform, and Robility™, a cutting-edge hyper-automation suite—this collaboration reimagined the workflow, transforming traditional operations into a seamless, tech-driven model.
Extract.ai automated the extraction of critical details from appraisal forms (1004 and 1073), minimizing manual data entry and significantly enhancing accuracy. Robility™ applied advanced business rules to these extracted data fields, ensuring seamless processing and eliminating unnecessary handoffs. This strategic deployment, completed in under three months, reduced manual dependency by 80%, allowing staff to redirect their efforts to high-value, complex tasks. The approach not only improved accuracy and compliance but also accelerated loan cycle times, setting a new standard for operational efficiency.
Sutherland’s digital appraisal review solution streamlined processes to eliminate multiple handoffs, leading to a 45% reduction in loan cycle times and enabling faster, more efficient decision-making. Optimized workflows reduced reliance on manual tasks, generating a 40% cost savings that significantly lowered operational expenses. By automating validation and incorporating AI-powered enrichment, the solution achieved 100% data accuracy, ensuring defect-free results and bolstering loan quality and compliance rates. Additionally, the scalable solution empowered the client to confidently handle higher loan volumes, paving the way for sustainable growth in a dynamic mortgage market.
That’s Digital Performance Unlocked and Measurable Outcomes Delivered!
This collaboration marked Sutherland’s transition from managing back-office underwriting tasks to becoming a strategic Digital Transformation Partner for the client’s underwriting operations. By implementing an end-to-end underwriting solution, Sutherland delivered a cost-effective, scalable, and future-ready framework that elevated the client’s operational capabilities.
“The efficiency and accuracy delivered by Sutherland’s digital solution have been game-changing for our underwriting operations. The partnership has set new benchmarks in speed and quality for our processes.”
– Client Representative
Reduction in Loan Cycle Time
Cost Savings
Data Accuracy
Future-Proof your Mortgage Underwriting Operations with a Digital-first Approach
Services
Underwriting
Industry
Mortgage
