The Brief

Client Profile: A Las Vegas-based Loan Production Office (LPO) that processes loan applications for corporations and small businesses.
Industry Domain: Banking and financial services
Challenge Faced: The client was overwhelmed with high volumes of paperwork during peak times, leading to inefficiencies. They struggled to manage the increasing loan application load and needed to improve their turnaround time for processing.
Project Objective: To efficiently manage the LPO’s loan application paperwork, reduce turnaround times, and ensure smooth processing even during peak periods.

The Solution

Backoffice Pro provided a comprehensive solution that improved the LPO’s loan processing by streamlining key operations:

Customized Loan Services: Assisted with purchasing, refinancing, cash-out refinancing, and loans such as SBA 7(A), Conventional 504, and Conduit loans.
Loan Eligibility Reports: Verified source documents, including Forms 1003, 1040, 413, and financial statements, before preparing eligibility reports using Microsoft Excel.
Peak Load Management: Introduced processes to handle peak periods efficiently without compromising accuracy.

Backoffice Pro’s intervention resulted in measurable improvements:

Cost Savings: The client significantly reduced staffing and operational costs.
Faster Turnaround Time: The LPO saw a considerable improvement in processing speed.
Effective Load Management: Seasonal application loads were handled efficiently, improving overall workflow.