Case Study:
Thrive Mortgage
Customer Happiness Success Story
Favorite Features
- Customer Happiness Team
- Detailed Reporting
- Real Time Status Updates
- Desktop Underwriter® (DU®) validation service
About Thrive Mortgage
Thrive Mortgage, formerly Georgetown Mortgage, is a leading provider of mortgage loans in Texas. With over 3,900 loans processed a year, they were in need of a reliable company to handle their Income and Employment Verifications, as their previous vendor was not meeting their expectations.
Challenge
With verification of income and employment being a necessary component of Thrive’s loan funding process, it was not only the 9-10 day turn time that was the breaking point, but the “lack of communication and lack of follow up,” that sent them to look for a more able provider. Some of the challenges included the loan processing team wasting a total average of 35 hours per week retrieving VOI/VOE information from their vendor due to the lack of communication, metrics, and follow ups. They also needed to check every single order to ensure quality as they were receiving VOI and VOE orders from other mortgage companies. After years of a troublesome relationship with their verification provider, Thrive decided it was time to find a vendor that could meet their VOI/VOE standards
Solution
After a short and very successful pilot, Thrive decided to roll out the Veri-Tax VOI/VOE solution company wide. Since moving to Veri-Tax, Thrive has seen their productivity on their initial underwriting submissions drastically improve due to a 45% increase in turn times. “It really has taken a big chunk off our plates ever since we moved to Veri-Tax.” They also love the detailed notes on every order, the real time order statuses, and the Veri-Tax customer happiness promise. In addition, with direct access to their account manager and the customer happiness team, they were able to resolve any issue quickly. Thrive has also seen a 200% increase in the number of loans receiving Day 1 Certainty®. from Fannie Mae when income and employment data is validated through the DU validation service using data from Veri-Tax. “We have really enjoyed working with Veri-Tax and it really has changed our business.”
Texas
350+ Employees
3,900+ Loans a Year
Veri-Tax’s customer happiness promise is 100% absolutely felt on our side.