6 Ways to Reduce Cost of Loan Production by 50%
As a lender, how can you reduce the processing costs and time involved? How can you save over 50% costs plus several more ideas discussed in the eBook
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Abstract:
Today’s business environment of higher interest rates, declining loan applications, and higher cost of compliance is a challenge to all lenders. As a retail lender, you spend significant time and costs on loan processing. How can you reduce cost of processing by over 45%? How can you reduce your overall cost of loan production as well by 50%?
We thought of 6 ideas that the lender can think of implementing, which will give them quick ROI. Also, with no upfront investments involved, the lender virtually has no risk associated with these initiatives.
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What You Will Learn:
- How you can speed up processing with scale
- Ensuring 99.5% accuracy
- Using ‘Pay as you go’ to scale operations at reduced costs
- Leverage tech from day 1 without any upfront costs
- Building flexibility in terms of resources and licensing
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