How a major loan provider uses PerformLine to manage a national network of sellers
About the Client
This client is one of the largest producers and servicers of residential mortgage loans in the country. For this provider, giving individuals and families the opportunity to invest in their own homes creates the opportunity for those people to also invest in their own communities. The company takes a service-based approach to mortgage banking that focuses on helping customers make their best possible financial decisions.
Business Challenges
Part of this lender’s service-oriented approach is ensuring that any marketing materials that the client produces are clear, accurate, and compliant. Before partnering with PerformLine, every piece of collateral that went out would be reviewed manually by a team member, a process that could take up to a few days and was prone to human error.
In addition, the client had no formalized way to monitor its web and social presence for compliance issues or to review all claims made by its 50 loan officers.
With a nationwide network of correspondent sellers servicing nearly half a million borrowers, the client clearly needed a way to streamline and automate the process of reviewing documents and its web presence.
PerformLine Solutions
- Document Review to automatically review all content created by the client's marketing and loan officers for potential compliance issues prior to distribution or promotion
- Web Monitoring to discover new mentions of the client and monitor existing content to ensure they are up to its standards
- Social Media Monitoring to scale digital oversight of all loan officers with automated discovery of posts and images
Results at a Glance
1.8k
total assets monitored
50+
loan officers monitored
85%
more efficient approval process
PerformLine Document Review makes my life so much easier. Instead of having to manually pore over every document we produce for thousands of rules, PerformLine immediately highlights the issues that need to be addressed on the document or that the document has passed review.
The Results
Faster and more accurate marketing review and approval
Before implementing PerformLine’s Document Review, each piece of marketing collateral had to be manually reviewed for compliance. Now, the client's marketing team and loan officers can send their documents directly to PerformLine to quickly receive a compliance score and feedback. Their document review process is 85% more efficient, allowing the team to identify common errors and move faster in getting new marketing materials to market.
Efficient and comprehensive compliance oversight
Monitoring 1.8k total assets, the client can now seamlessly oversee its marketing claims across various channels, including those made by its 50+ loan officers.
Additionally, with a nationwide network of correspondent sellers, any unknown brand promotions originating from independent mortgage bankers, community and regional banks, or credit unions are identified and reviewed for compliance.
This comprehensive approach helps maintain a consistent and compliant brand message, protecting the client's reputation and regulatory standing.