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Case Study:

Mortgage Investors Group

Customer Happiness Sucess Story

Favorite Features

  • Customer Happiness Team
  • Detailed Reporting
  • 24-72 Hour Turn Time

About MIG

Mortgage Investors Group has been a leading provider of mortgage loans in Tennessee providing exemplary service for over 30 years. With over 25 locations and 400 employees, they were looking to replace their big name vendor as they have not been satisfied with their vendor’s service delivery and track record.

Challenge

Bigger does not always mean better as MIG realized with their incumbent verification provider. MIG has carefully cultivated a brand reputation as a trustworthy and dependable mortgage lender in the marketplace so they were concerned about their vendor’s poor turn times and inferior quality including a history of utilizing offshore call centers. MIG was subject to weeks of anxiously waiting for verifications, with some taking over 120-180 hours to complete. As a result of their vendor challenges, MIG was having trouble meeting their goal of closing most of their loans within 30 days of application . Moreover, the vendor’s unreliable turn times frustrated the lender’s ability to take full advantage of Fannie Mae’s Desktop Underwriter ® (DU®) validation service. As one manager joked, “Day 1 is like Day 20 with our vendor.

Solution

MIG was finally able to relieve their headaches by turning to Veri-Tax, a verification specialist. Unlike much bigger players with more diffused if not distracted focus, Veri-Tax has been sharply focused on continuously strengthening and innovating their verification services. After the Veri-Tax implementation, MIG’s productivity increased by 35% and turnaround times improved. The rise in productivity has allowed MIG to complete more verifications and submit a majority of their loans within 14 days of application. “With quicker turn times from VeriTax, we have been able to submit loans to underwriting even quicker.” Veri-Tax surpassed expectations with regards to communication as well as providing useful and detailed reports, something that was lacking with their previous vendor. More importantly, MIG has been very pleased that the “unbelievable” customer happiness team of Veri-Tax truly does live up to their name.

Tennessee

400+ Employees


10,000+ Mortgage Loans a Year

Being a partner with Veri-Tax helped us become faster and more efficient.

Malinda Morrow

Branch Production Coordinator