Case study
A brokerage network cuts mortgage file preparation time by 15x
12 offices, 5 partner lenders, 400 files per month: this tri-state mortgage brokerage eliminated document back-and-forth with its lending partners.
Context
Industry
Mortgage brokerage (12-office network, tri-state area)
Volume
400+ mortgage files per month
Partner lenders
JPMorgan Chase, Wells Fargo, Bank of America, US Bank, PNC
Team
12 loan officers + 4 processors
The problem
Each partner lender requires a different document set, with formats and eligibility criteria that change regularly. The processing team was drowning in follow-ups and stips.
- 45 minutes on average to check a mortgage file's completeness
- Back-and-forth with borrowers for missing or unreadable documents
- Each lender imposes its own criteria: Chase ≠ Wells Fargo ≠ BofA
- Underwriting timelines extended by incomplete submissions
- Overwhelmed processors, frustrated loan officers, impatient borrowers
The solution
CheckFile.ai checks each mortgage file in real time against the specific requirements of the target lender, before submission.
- Validation rules mapped to each partner lender's overlay requirements
- Pre-submission checks: completeness, readability, validity dates
- Compliance report generated for loan officer and borrower
- Integration with the brokerage's LOS (loan origination system)
The results
45→3 min
per mortgage file
Verification cut from 45 to 3 minutes
-70%
document stips
Borrower follow-ups dropped by 70%
-40%
underwriting delay
Complete files = faster clear-to-close
98%
first-submission completeness
Nearly all files compliant on first send
“Our loan officers spent more time chasing documents than advising clients. With CheckFile, the file goes out complete or doesn't go at all. The underwriters love us now.”
Director of Operations
Mortgage brokerage network, tri-state area