Can Contract Processing Help You Scale Your Business and Increase Your Volume? | The Mortgage ProcessorsAug 09, 2021
Have you ever wondered if contract processing could help you scale your business and increase your volume of loans? Loan officers often find themselves overwhelmed with the amount of work they need to get done. They spend their time juggling paperwork, phone calls, meetings, appointments, and more. This doesn't leave a lot of time for the origination of new loans and meeting with customers. Contract processing can be a great solution for these issues! Loan officers may not know about this service or how it works so we created this blog post to introduce them to what contract processing is and how it can help them manage their workload easier while improving customer satisfaction levels and scaling their business.
Scale vs. Growth
First, we have to define the difference between growth and scaling. Typically, we think of growth in linear terms. A company adds new resources (capital, people, or technology), and its revenue increases as a result, but scaling is when revenue increases without a substantial increase in resources, costs, and effort. Processes that scale are those that can be done in bulk without extra effort - if I send an email to 10 people or 10 million people, it still requires the same effort, but its potential for new financial growth is exponentially more.
Contract Processing Scales Accordingly
Contract processing works in the same way, as in the example of an email, it would be the email program or delivery system that allows that same email to reach that many people or just one person depending on your needs, but while essentially costing the same amount of money, time, and effort. Hiring a company like The Mortgage Processors allows a loan officer to serve more, or fewer, customers accordingly, while not having to hire (and train) additional employees (and keep them on during slow periods), and subscribe to costly software (and learn how to use it and keep it updated) as all of these backend processes, costs and staffing are handled by the contract processing company.
More Time to Focus on Origination
With all this time freed up, you will be able to use that time to meet with new potential clients to continue to increase your volume and continue to scale. This works the same whether you are just starting out and are just serving a few customers (and want to serve more) or have a comfortable amount of customers, but want to put in less effort on the day-to-day tasks while keeping your customers happy. If you are interested in learning how The Mortgage Processors can help you grow your business and your volume and want a free price quote, please fill out this form.
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