Loan manufacturing costs are quietly eating away at your margins. You may not see it in one loan, or even ten, but across hundreds or thousands of loans, those manual inefficiencies stack up—and fast. It’s time to talk about how mortgage workflow automation can cut those costs and help you regain control over your profitability.
Why Mortgage Workflow Automation Is Your Cost-Saving Secret Weapon
The average cost to originate a mortgage loan now exceeds $11,000. A large portion of that cost comes from labor-intensive tasks like document processing, income verification, and repetitive data entry. These tasks aren’t just time-consuming—they’re error-prone and drag out your time to close.
Automation tools like Lender Toolkit’s Prism eliminate those inefficiencies by creating streamlined, intelligent workflows directly in Encompass by ICE Mortgage Technology. And the results speak for themselves.
Key Ways Prism Reduces Loan Manufacturing Costs
- Automated Asset & Income Analysis Whether it’s a Conventional, FHA, VA, or USDA loan, Prism can handle it. Automated alerts identify overdrafts, missing income documentation, or data inconsistencies before they become underwriting issues.
- OCR Accuracy at Scale Prism’s 99% accurate OCR saves hours of manual data entry. Think about that multiplied by thousands of loans a year. That’s a significant labor reduction and accuracy gain.
- Workflow Customization for the Real World Unlike other rigid systems, Prism adapts to your workflow. You’re not forced to change how you operate—Prism works with you, not against you.
- Error Detection Before Submission Preventing a single loan buyback could mean saving tens of thousands of dollars. With Prism, early detection of issues like incomplete documentation or inconsistent income data can stop problems before they reach an investor.
Financial Impact of Mortgage Workflow Automation: What the Numbers Say
According to a Vice Capital Markets study, lenders using Prism saw:
- $85 increase in revenue per loan
- $250,000+ annual profit gain
- Reduction in loan turn times by up to 40%
- Decrease in underwriting touch points and resubmissions
Those aren’t projections—they’re real, bottom-line improvements seen by real lenders.
A Client’s Perspective
Mortgage workflow automation isn’t about eliminating jobs—it’s about eliminating redundancy. It empowers your team to focus on high-value tasks that actually move the needle. And in an industry that’s all about time, accuracy, and compliance, that kind of edge is invaluable.
Prism isn’t just a tool—it’s a strategy for doing more with less. Learn how Prism can help your team reduce loan manufacturing costs.
