Outsourced Loan Processing
WHY OUTSOURCE YOUR LOAN PROCESSING SUPPORT?
Mortgage and other finance brokers would agree that loan processing is a time-consuming process. Accurate and timely input impacts first-time-right, which ultimately impacts the service to your clients and getting the deal done.
Profitmaster is experienced in working with lenders and brokers providing back-office services as a solution for you to save time and money. Ultimately, our service creates a simple way for you to increase settlement volume.
OUR ‘ ALL-ROUNDER’ SOLUTION
We offer a solution that absorbs large amounts of your low and medium level task-flow at a 60% cheaper rate than staff in Australia allowing you to chase new loan opportunities. We liken it to the scenario where your outsourced team members are always working from ‘home’. You can speak to them on the phone or via skype as often as is needed to solve the problem and you work seamlessly as a team, just like in Australia.
TASKS THAT YOU MAY NOT KNOW THAT YOU NEED HELP WITH:
- Input applications into bank or aggregation software “apply online”
- Follow up outstanding documents, rectify errors on a loan application
- Completing pricing requests
- Loan packaging, pre input, privacy documents and application forms
- Booking and following up valuations
- Follow up on customers
- Bank follow up for loan processing steps
- Compliance documentation.
- CPD points (List of meetings, appointments, data base collecting for aggregator)
- Chasing commission from aggregators and rectifying errors if needed
- Calendar management and settlement timetable
- Maintaining client database and client relationships, e.g. settlement gifts
- Construction progress draws
- Top ups, switching and fixing
- Building lead generation lists
- Product and policy research for tricky loans
- Helping with rate reviews, most importantly scheduling clients for regular contact
- Marketing and networking on social media like LinkedIn
- General assistantance with other tasks, our staff learn and adapt like all great staff do!
- Allows you to focus on building your business and building your mortgage volume
- Grow your loan book and increase trail commissions
- Ensure you hit key compliance requirements
- Spend time on your business, not in your business
- Once up and running, your Loan Support staff take care of all your client’s and lender’s ongoing requirements
HOW MUCH DOEST IT COST?
The cost really depends on the specification of the tasks and your requirements. As an example, the cost of a Loan Processor in Australia would cost around AUD $74,800 per annum but with us, you could be spending as little as AUD $25,560 per annum.
To get the process started, we require an engagement fee of $2100 which covers recruitment and a probationary period of 3 months. Our Australian based process improvement experts help you streamline the staff member into your business and tailor the outsourcing solution. If the first staff member does not work, we will find one that does at no additional cost.
THE RECRUITMENT PROCESS
- Formal proposal and payment of engagement fee
- Process improvement session, to understand your business and loan process in detail
- Formal job description document finalised, signed off by you as per agreed requirements
- Recruitment process which will take 3-5 weeks or earlier depending on our current skill set of candidates
- Skill set test, screening and interview.
- Choose your best candidate with our guidance
- Orientation on pre-commencement state.
- On-boarding and training until the workflow has been picked up.
- Warranty period of 6 months if candidate is not suitable, Profit Master’s role is to find a candidate that is. This cost is covered by the engagement fee
FREQUENTLY ASKED QUESTONS?
- We are a growing company and you’ll mostly be dealing with the owner of the company
- We have very low staff churn.
- You get a dedicated staff member.
- We have exceptional office security, we value Data Privacy
- We implement strict compliance to protect your data.
- We have full cover for professional indemnity insurance.
- We have a proven track of record for being an expert in Loan Processing Support.
- We are Australian owned company- any issues will be easy to address in person on our main office in Queensland.
- We’re more than just a Loan Processing expert, we’re diverse and can be utilise on other area of your business.
- We promote seamless relationship between our management, employees and clients.
- Our work model does not charge per deal instead it allows you to get a dedicated staff or team to offload tasks that you shouldn’t be doing.
- We recruit people who are brand ambassadors in terms of high-level communication and comprehension skills.
- We recruit people who has multi-skilled functions.
- We offer low cost that equates quality service.
- We ensure you’ll meet your compliance requirements.
OUR OFFICE AND RESOURCES
- Dedicated world class secure office facility at Clark, Pampanga, Philippines.
- Workstation – Each workstation has a comfortable office chair with a computer including USB noise cancelling headset for VoIP calls.
- Low redundancy high speed internet – Two (2) ISPs serving fiber optic connections. The primary Internet line has 10Mbps upload/download speeds with a backup Internet line of 6Mbps upload/download.
- Full time IT team with support services on a triage ticketing basis to assist clients and staff should they require technical support.
- 24-hour CCTV cameras and links are provided to approved clients. For added corporate security, CCTV is not available to anyone not utilising shift times.
- Computer security – we offer high levels of computer and data security, dependent upon client specifications.
- Staff log on and log off software – staff are required to log on to our employee system and log off at the end of their shift. Monthly attendance reports are provided at no extra cost.
- Training / meeting room – our office has a separate training room with whiteboard and projector. The training room is supported with internet communications and recorded CCTV (available on request). Clients are welcome to use the training room when visiting Clark.
- Commercial grade VOIP telephone numbers with call recording capability in the location of client’s choice including free softphone. A number of handsets are available at no extra cost if preferred.
- Human resources – our full time HR Officer will advertise and recruit for staff, conduct interviews and select staff. Staff are employed by ProfitMaster and all HR and payroll requirements are attended to by us. We conduct monthly performance appraisals and report to our client.
- Dialing capacity up to 8000 calls per day.
- On-site operations management for supervision, training and facilitating direct interaction between clients and staff.
WHY START NOW?
Your competition is using outsourcing, they are potentially winning deals from you. Latest surveys show that 80% of small business in Australia is outsourcing some element of their business.
Today, outsourcing is best use as a strategy across all industries because of its limitless use. It will allow you to stay ahead of the game and let you win on a day to day basis. Consider this as an ongoing investment that should be able to help you get a longer-term success by helping you to continuously grow your pipeline.
Aside from the fact that it is innovative –ultimately, it should reward you with satisfying amount of relief and success.
Let us help you get started, call us at 07-3067-8949 or simply send us your requirement using the form below.