Legal obligation. Binding. Complex. Wordy. Highfalutin words. These are the things that come to mind when you hear the word “contract.”
Processing and understanding mortgage contracts are no different. It’s also a cumbersome and time-consuming task. A little mistake can lead to considerable loss.
With the economic downturn and fierce competition, outsourcing your company’s contract processing needs is a wise move.
Guidelines in Choosing your BPO Partner
But where do you begin? With the enormous population of BPO companies in the Philippines, how do you choose?
Start by asking your potential BPO partner the following questions:
- What types of contracts have you been processing?
- How many years have you been doing contract processing?
- What are the qualifications and educational background of your staff?
- What sort of pricing should I expect? A flat fee per file? Or do I get a discount on bulk volume?
- Who takes care of shipping and mailing charges?
- Will a dedicated processor be assigned to my account or an entire team?
- What is the maximum amount of file you can process?
- What’s your turnaround time per file?
The moment you get satisfactory answers to your questions, you can start looking forward to enjoying a host of benefits listed as follows.
Access to Seasoned Loan Officers
The processing of mortgage contracts involves different stages and is lengthy. It requires skill, quality time, and dedication.
Outsourcing your mortgage processing needs means you have professional and experienced processors, otherwise called seasoned Loan Officers, working for you.
Faster Turnaround and Higher Productivity
Outsourcing your mortgage contract processing also means you achieve more – fast.
Efficiency is core to every business entity. But more so for mortgage and lending companies.
It is elementary to monitor your processing activities as a firm constantly.
When you outsource, you meet deadlines and get work done instantly. The amount of time (and resources) you need to recruit additional staff and train them is eliminated.
Reduction in Overhead Costs
When your mortgage contract is processed offsite, it reduces office resource usage – lesser incoming phone calls, fewer office supplies, lower utility bills. You can even operate in compact office space since you will also only host limited in-house staff. And a small team only creates an inconspicuous dent in your capital for compensation and benefits payout.
Frees up Time and Reduces Stress
Outsourcing also frees up your in-house Loan Officer or Broker’s time. Since they will no longer be tied down by the details and intricacies of processing contracts, they will gain more time to do market and sales instead.
When you have productive and happy agents, not only does it produce better output but also a conducive working environment. And a happy and healthy work environment translates to a lower employee turnover rate.
We offer you affordable contract processing services on a month-to-month or ongoing support basis.
Our highly-trained and professional workforce, supported by state of the art technology, will bring you significant savings and greater flexibility in how to run your business.