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“I also deal with borrowers, but get the contract in and have the loan set up and ready to go. And once it’s ready to go through underwriting, that’s when my company comes in, so that the loan originator can step outside, work with more clients, increase their efficiency in getting more loans, and we take on the back-end operations process once it goes through underwriting and all the way to closing.”
What began as a one-woman operation has grown into a thriving business. Dempsey’s team now includes two full-time processors, with plans for further expansion. Within just 13 months of starting her company, it had secured licenses to operate in 13 states and has a few more slated by the end of 2023.
Challenges and opportunities
When asked about the challenges in speeding up the origination process, Dempsey reframed them as opportunities for growth and learning. She emphasized the importance of communication and having a complete file.
“One of the things that makes for a successful and streamlined process is making sure that there’s great communication between the loan officer and myself, as well as all of the documents and narrative,” she said. “Making sure that when it comes to our office, we have a full understanding of what that big picture looks like, the goals of the client, how this is going to be structured, what their thoughts are, and even the simple things like preferred methods of communication for the borrower.”
Read next: Do you need to be good at math to become a mortgage broker?
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