Mortgage Company Saves in Multiple Cost Centers

The client is now a multi-location Home Loan Mortgage Company in multiple states with nine branches. Over time, they have built an in-house infrastructure to drive efficiency, a transparent loan process to provide peace of mind, and an unforgettable customer experience. That said, because of this growth they are challenged with making sure each location has the services needed to deliver a remarkable customer experience. 

With mortgage rates continuing to decline and margins tightening, Expense To Profit was hired to determine if there were potential areas of savings they could immediately deploy. 

ETP was asked to review its expenses for merchant fees, payroll and telecom (data, wired and wireless) services, health insurance, as well as office supplies and overnight package deliveries. ETP Consultants found savings that will help the Company continue to fulfill its mission.

Market knowledge, proprietary tools, project experience and implementation assistance.

Our consultants were able to gather extensive and detailed information from suppliers and solution providers. We weighed all vendor responses based on a number of criteria important to the client, including quality, availability of service management tools and price-change notification policies.

We also reviewed existing and proposed contracts for improved pricing, incentives and discounts; arranged a “Vendor Day” so that suppliers under consideration could present alternative products that offered substantial savings; and assisted in implementation with a 30 to 90-day transition period after contract signing to implement the savings.

ExpenseAnnual SavingsOverall Savings
Telecom / Data$142,00024%
Overnight Packages$26,7009%
Health Insurance$189,00014%
Merchant Fees$44,10011%
Office Supplies$59,90028%
Mortgage Company Expense Reduction Project Summary

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