Credit Union Cuts Loan Setup Costs by 60%
Client Type: Midwestern credit union using MeridianLink Mortgage
Challenge:
Loan processors were burdened with repetitive setup tasks—indexing documents, preparing disclosures, triggering AUS—which slowed down file movement and strained borrower communications.
Solution:
Overnight loan setup support model combining offshore specialists with secure LOS integration. Offshore teams accessed the LOS to complete core setup tasks overnight, ensuring loan files were ready for processing the next morning by U.S.-based staff.
Workflows Included:
- Document indexing and naming in LOS
- Initial data validation and borrower info review
- Disclosure prep and fee entry
- AUS runs and milestone updates
Outcomes:
- 60% reduction in per-loan setup cost
- 5+ day reduction in loan cycle time
- Improved processor efficiency and borrower responsiveness
- 90% of loans are prepped within 12 hours of submission