The Mortgage Collaborative has come out with a new benchmarking report that will enable its lender members to compare their performance against their peers’ performance.
The new monthly report delivers production, operational, staffing and execution metrics that lenders can use to gauge their performance against the overall performance of the other lenders in the collaborative. It is available free of charge to all lender members.
Participating members can receive a customized report that compares their specific performance benchmarks against others within the network.
In a release, Rich Swerbinsky, chief operating officer of The Mortgage Collaborative, says the report “was created in response to direct feedback from our lender members, wanting a cost-effective, close to real time measurement of their performance month-over-month.”
“We worked closely with our 20-lender beta group to ensure the most meaningful metrics were incorporated,” Swerbinsky says. “The platform is easy to use, requires no more than an hour of work each month, and delivers a report that is impactful to the participants.”
“TMC Benchmark gives us near instant access to measure our operational metrics against some of the nation’s best mortgage bankers and financial institutions,” says Peter Kenny, senior vice president and chief financial officer at Jersey Mortgage Co. “We find it to be a valuable tool and have incorporated it into our management reporting for discussion purposes.”
The Mortgage Collaborative network has 117 lenders with an aggregate annual origination volume of over $200 billion.
The network caters to lenders of all sizes, with a strong mix of independent mortgage bankers, community banks and depositories.