A leading US mortgage lender wanted to optimize loan closing time within its retail and wholesale underwriting channels. The company also wanted to reduce operating costs, lower cycle times and improve pull-through rates. While initial underwriting approval typically takes 72 hours from when a loan is submitted, this process can take longer if the processor submits incorrect or incomplete documentation to the underwriter. Traditionally, an underwriter reviews whether each document in the package is needed for loan approval, and these extra reviews can potentially increase the denial rate and decrease loan processing efficiency. Processors’ lack of clarity around documentation requirements posed another challenge for the lender. Determined to solve these challenges, the company engaged its long-term strategic services partner, Cognizant, to help implement a solution that would position it for loan processing success.