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4 Ways to Improve Workflows Between Origination & Underwriting

  • Post category:Origination

Improved coordination and communication between your origination and underwriting teams will boost productivity, increase transparency, facilitate teamwork, and close loans faster.

When it comes to your origination and underwriting, your tools and systems should enable you to improve coordination and communication among teams across your entire organization. Here are 4 ways to leverage your origination and underwriting systems to improve collaboration among all lender teams and advisors from start to funding:

1. Map Out the Customer Journey to Close Faster

Rather than manually go back and forth between sales and underwriting via email or messaging to ask questions and manually look at every deal or funding request that comes in, set workflows into motion that help move customers to approval faster and with less friction. Leverage your origination and underwriting systems to set up workflows that allow you to make preliminary assessments and respond automatically rather than manually and reactively. The ideal scenario is to map out the customer journey from origination to underwriting and beyond so that you can use smart workflows to improve coordination between sales, underwriting and operations to improve the customer experience an close faster.

2. Automate Notifications to Boost Overall Productivity

Does your team have valuable tools for internal coordination so team members are in sync and tasks are completed sooner? Leverage your systems to include automatic internal email notifications at multiple stages along the loan origination, underwriting, closing, and monitoring process. Ultimately, you want to manage all internal relationships relating to your borrowers all in one place.

3. Automate Task Assignments to Increase Transparency Among Key Stakeholders

Can you automatically alert assigned members of multiple teams simultaneously to clients for more transparency and ease? You want a tool with user management in order to give all team members access to the right level of visibility and approval rights. This will reduce closing times as well.

4. Invite Key Partners to Facilitate Teamwork

Can you enable all of your stakeholders to view information to facilitate teamwork and close more deals? Enable partners, advisors, brokers, auditors and other collaborators to view a deal or several deals to your underwriting system. Configure specialized dashboards and metrics for different types of collaborators. Remember to keep internal or sensitive information private. If you can, customize your own unique lender workflows and include key outside referral sources, partners, attorneys and key stakeholders in your origination and underwriting systems.

How Can Decipher Credit Help?

Our robust loan origination and underwriting platform offers sophisticated workflow features to define the customer journey for each of your lending products, improve coordination and communication among teams and clients across your entire organization with automatic notifications at any stage along the pipeline and with many levels of visibility and permissions. Decipher tracks all missing items for a loan or funding request as well as all incoming and outgoing emails so everyone is on the same page. Lenders can also set up email templates for easy follow up, tracking, coordination, and automatic response and can also invite key stakeholders to collaborate together on the platform. Schedule a demo today to learn more!