38 Closing Documents. 23 Errors. Zero Reached the Table. 🔥
Mortgage closer at a regional lender. Average loan package: 38 documents. All need to be accurate before closing.
The old process: Print everything. Read every page. Check every number matches. Initial every correction.
Average errors found per package: 4-6.
Time to review: 90 minutes.
Errors that still reached closing table: Too many.
Built a pre-closing verification system.
Upload entire loan package. System extracts: borrower names, loan amounts, interest rates, property addresses, closing dates. Compares across all 38 documents. Flags any inconsistency.
First week results:
- 23 errors caught in one loan package alone
- Interest rate wrong on 3 documents
- Borrower name spelled differently on 7 documents
- Property address had wrong unit number on 2 documents
- Closing date inconsistent on 4 documents
None reached the closing table. Corrections made before signing.
Error rate at closing: Down 89%.
Borrower complaints: Down 67%.
Rescission requests: Zero in 6 months.
What document errors are reaching your customers?
15
5 comments
Duy Bui
7
38 Closing Documents. 23 Errors. Zero Reached the Table. 🔥
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