Why Time Saved Helps Everyone

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Tags: Digital Home Lending, Digital Advantage, Loan Officers

"Everyone has the same 24 hours in the day. It's what you do with yours is what matters."

At Wyndham Capital Mortgage, we are committed to making the most of the 24 hours in the day. And we do mean all 24 hours. With dozens of robotics-driven and automated intelligence-focused processes, we are consistently working to drive loans forward, from application and pre-approval to processing and closing.

The around-the-clock nature saves thousands of hours each month typically spent on menial, time-consuming tasks. But what does this mean? 

When we say we're working around-the-clock - 24 hours a day, seven days a week, 365 days a year, that's not an exaggeration. The robotics involved in the loan process frees Wyndham Capital customers from having to schedule or plan their loan process steps around someone else's schedule, but rather puts the power of digital convenience at their fingertips. 

For instance, data input, checking and analytics were steps that took both time and energy away from employees while stopping the process in its tracks. Costs to produce the final results were high, and the market could change immensely in the time between application and initial contact between a borrower and loan officer. 

But when Wyndham implemented robotics to automate this step, the negative impacts were practically eliminated. Robotic data entry was fast, accurate and could be performed whenever needed. 

This is an example of a vast difference from the long-accepted ways of business in the mortgage industry for years, where face-to-face and scheduled interactions, combined with repetitive tasks for both parties, slowed the process decidedly and opened the door to higher costs. But now, with Wyndham's automated steps filling the process and shrinking the timeframe, getting your home loan and living life on your schedule are no longer mutually exclusive. What used to take days now takes hours, and what used to be on hold for weekends and holidays now moves forward no matter what day it is. 

The accuracy and ease of solving any potential issues is an impact that cannot go unspoken. This is highlighted in the automated intelligence and technological advances involved in the closing process. It can be an overwhelming experience for a borrower to schedule time to go to an office and be presented with stacks of papers, full of information, just waiting for many signatures. With little to no preparation and merely a hope all the information is correct, it can be an unpleasant end to what should be a joyous moment. 

Enter intelligent automation and robotics. Even before the closing date, borrowers are sent digital copies of the documents for their research and final checks, so they no longer are going in blind. If a piece of information does need to be updated, the process is done in minutes, seamlessly integrating the new data into the documentation. 

The benefits, as mentioned previously, are numerous. For loan officers, they are freed to do what they do best – work with borrowers and provide outstanding service and results—freed to go the extra step with the time they now have. They are gaining more experience faster than before, as they can close more loans in less time. Their career experience trajectory exponentially grows as a result; they get more efficient and more effective as they gain experience, which allows them to close even more loans in even less time, continuously improving their knowledge base and skills. 

For borrowers, it all boils back down to numbers - the time and cost saved in the process through the efficiency drivers are passed directly to the borrower. Less time to process equals a shorter timeframe from application to close, and less cost to process equals no hidden fees and some of the lowest rates in the industry. 

But the benefit for borrowers extends beyond numbers. When employees' time is freed up from menial tasks, they not only have more time to help move the loan process along, but they are also able to focus on customer service. Ensuring best-in-class service every time is a top priority for Wyndham Capital, and it is, in part, made possible due to having more time to focus on making the customer experience great. In addition, the experience gains and improved skillsets for the loan officers play a factor in an improved borrower experience. 

Twenty-four hours in a day – for Wyndham, we are focused on making sure each one is spent most efficiently and effectively possible.