Case Study
Mortgage lender reduces cost per loan by 20%
A leading U.S. mortgage lender struggled with lengthy loan closing times and high operating costs across its retail and wholesale underwriting channels. To optimize efficiency and boost pull-through rates, the financial institution partnered with Cognizant to redesign its pre-underwriting operations. Cognizant software played a crucial role by integrating advanced digital workflows and supporting a specialized offshore direct-to-underwriting team. This powerful technological intervention streamlined application processing, cut operating expenses, accelerated turnaround times, and successfully reduced the lender's overall cost per loan by twenty percent.
