Case Study

PRMG, Inc. reduces broker loan submission times by 83 percent and origination cycle times by 31 percent with Encompass TPO Connect

PRMG, Inc. reduces broker loan submission times by 83 percent and origination cycle times by 31 percent with Encompass TPO Connect

Profile • PRMG,Inc. • Corona, California • 150 locations • Av. annual loan volume: $6B Challenge Create a best-in-class broker experience. Results • Reduced broker loan submission times from 30 minutes to five minutes. • Decreased time from submission to underwriting from two days to two hours. • Reduced underwriter touches per file by 96 percent. • Increased underwriting decisions per day by 18 percent. • Reduced underwriting overtime costs by $1M annually. • Decreased wholesale cycle times by 31 percent. The challenge Paramount Residential Mortgage Group (PRMG), Inc. is a leading lender selling through retail, wholesale and correspondent channels. One of the ways the organization differentiates itself is through technology—not only investing in tools that enhance

Join for free to read