Leveraging BI: A Day in the Life of a Performance-Focused Lender

“The fun part of mortgage lending is taking data, making sense of it and coming up with better ways to leverage it to become a higher-performing organization

— Matt Stokes, Chief Analytics Officer, AmCap Mortgage

Anyone can run a mortgage company, but not everyone can run it well.

It requires insight into performance at any given time, understanding the trajectory of the business and the quality of loans. It’s about data – drilling down deep into it, tracking issues before they start and getting the full picture of your company.

Nobody believes that more than Matt Stokes, AmCap Mortgage’s chief analytics officer.

Data is a major part of Matt’s role, which is why checking in with multiple departments is so important. “Data affects every person here,” says Matt. “From C-Suite personnel to underwriting managers and processing managers – even loan originators themselves. I’m responsible for analyzing the data and given them feedback.”

Though many things have changed since working from home because the new norm, one thing has stayed consistent: the need for an in-depth look at company data. With the help of Nexus Vision, Matt’s ability to deliver performance insights hasn’t skipped a beat.

Matt sat down with us recently to walk through a day in his life.

Morning Metrics Over Coffee

Matt starts his day with a look at the At a Glance dashboards in Nexus Vision, which provide brief yet insightful overviews of what happened since he closed up shop the night before. Through these sections, he can easily analyze anything from warehouse lines to the need for more personnel to identifying top and bottom performers. “Frankly, looking at these pages should make up the first 15 minutes of everyone’s day”, Matt says.

LimeGear's Production At a Glance screen
Nexus Vision‘s Production At a Glance screen provides a high-level overview of your loan production key performance indicators.

Armed with an overview of how things are going thanks to the At A Glance summaries, Matt can decide on which specific indicators to dig into a little deeper. From analyzing product mix by channel to drilling down for a closer look at one loan originator or underwriter in particular, Nexus Vision saves precious time by providing an in-depth and sophisticated look at his data.

Finding the Weakest Links

An important part of Matt’s day-to-day responsibilities is analyzing both top and bottom performers. With Nexus Vision, he can retrieve that data in an instant, enabling those in leadership positions to see where company resources are going and quickly understand their return on investment for specific employees.

With talent frequently hopping from company to company across the industry, tenure provides an important baseline for understanding how employees are performing at every level. Digging deeper, lenders could uncover what is known as the 80-20 rule, where the lowest 20% of performers are using 80% of the company’s resources when ideally, top performers should have these resources at their disposal. If this imbalance is left unchecked, processors and underwriters can eventually suffer from burnout, causing lenders to lose their best workers because of their lowest-performers.

With tenure and performance data in hand, Matt has the power to determine whether high-performing staff should be earning additional compensation. He can also identify the weakest links, or lowest performers, and determine where company resources are being gobbled up. It’s through this lens that Matt can see whether an employee’s production volume warrants a higher-than-average cost profile – important data that directly affects business growth.

In addition to analyzing resource distribution, Matt also takes advantage of Nexus Vision’s scorecards with key performance indicators (KPIs) throughout his day to see how long files have been in underwriting or processing. “I can’t stress enough how important it is to not only have data on your employees’ performance but to be able to visualize it and truly understand what it means for the company as a whole.”

Nexus Vision‘s Units Funded Per Month KPI scatter plot illustrates how your employee performance stack up against each other.

Flexibility of Format

When Matt prepares for his meetings, Nexus Vision goes with him.

Depending on the meeting topic or the specific needs of his team, Matt can choose to download a PDF version of the reports or he can simply pull up Nexus Vision and share directly from the platform.

If the meeting requires it, Matt utilizes live drill-down features to show his team real-time data. Outside of meetings, he might screenshot quick looks at the analytics and attach them to emails as needed, which adds a real wow factor.

At the end of the day, the advantages of proper business intelligence tools are too valuable to pass up. Lenders might begin to turn data into action. Nexus Vision is how you do it.

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