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Clients: Clients


Newport Beach, CA

  • Challenge : The years between 2012 to 2014 were particularly challenging in the mortgage industry due to the volatility of the market coupled by the usual seasonal swings of interest rates. The organization has always historically addressed this challenge through the usual "hire and fire" methodology.

  • With SBIQ : Despite the difficult situation and because of SBIQ, the organization was still able to consistently one of the top producers in the California region year after year. This was done with normal staff on their payroll and never needing to hire more in the best of times or let go of anyone during the worst of times. When using SBIQ, what used to be fixed costs turned into variable costs due to the "per transaction" charging of SBIQ for document management services. Thus, scaling up or down was not a problem.


Baltimore, MD

Challenge : The target audience for reverse mortgage loans were not the "tech savvy" sector of the borrowing population. As such, loan documentation remained predominantly "old school" -- hard copy / paper. These were even received using outdated technology (fax machines). So the typical reverse mortgage division branch office would have a large portion of their area dedicated for storage of paper documents. Majority of the employees also had to be physically at the office when working on their loans.

With SBIQ : SafeboxIQ had enabled a transition of the reverse mortgage process into a paperless workflow. Not only was the documentation now virtually available to all parties involved, it also provided the loan officers, assistants, and processors a better quality of life because working from home was now the norm. In fact, it was even a very viable "recruiting tool" for them to acquire the best loan officers and processors in that mortgage channel.

Clients: Clients


Retail Branches in NJ and CA

  • Challenge : Next to the underwriting resources, the other most expensive resource in closing a loan are the loan processors. They have the skill level comparable to the underwriters and have the responsibility of producing a high quality loan package. They have to close loans at the quickest possible time with the least possible conditioned documents.

  • With SBIQ : This challenge was not going to be addressed by eliminating the processor cost item. SafeboxIQ's incorporation into the workflow was meant to produce a different outcome. Removing the mundane tasks of document handling, data capture, and initial analysis from the tasks of the processors resulted in a higher capacity per processor. Thus, they were able to handle pipelines that were twice the normal capacity of a processor. The processors had pipelines as much as 30 to 40 loans a month. The average turn time from creation to funded was 24 days. The average conditions of a loan package submitted through SafeboxIQ was less than 5 conditions. The processors were centralized in an operations center servicing around 30+ branches nationwide (centralized processing). The skillset and cost of processors were maximized very efficiently.

Clients: Clients
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