UMortgage Announces Q4 Goals & Priorities

September 28, 2022

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UMortgage Announces Q4 Goals & Priorities

PHILADELPHIA, PA., Sept. 27, 2022 — While it continues to grow in a shrinking market, UMortgage is taking the momentum built in Q3 of 2022 into the year’s final quarter with a refreshed set of goals for Q4. 

These nine new Q4 goals, priorities, and deliverables are an indication of the growth that UMortgage has seen this year, as well as the company’s plan to continue to grow into 2023. UMortgage’s full list of Q4 goals and priorities include a benchmark for monthly credit pulls, loans locked, homeowners served, total LOs hired, LO retention, LO NPS rate, Report Up engagement, cycle time speed, and the percentage of locked loans & credit pulls that convert to funded loans. You can find the full list of Q4 goals and priorities in the image below:

Consistent improvement is a cornerstone of the daily operations at UMortgage. To ensure that every voice is heard across the entire organization, UMortgage enhanced it’s ‘Report Up’, a weekly self-assessment taken by every UMortgage team member, to create a feedback loop and accountability for UMortgage’s leadership team. 

UMortgage is encouraging specific engagement rates for team leaders (100%), HQ team members (85%), branch managers (75%), and LOs + non-HQ team members (60%). Promoting transparent feedback helps the organization drive its focus, priorities, and projects each week. 

In an effort to clearly align Q4 goals with the UMortgage vision, the company updated its prior goal of 'funded loans' to now reflect homeowners served. As part of the vision statement, “creating life-changing opportunities through homeownership,” UMortgage plans to serve at least 900 homeowners in the final quarter of 2022.

To help reach that goal of homeowners served and enact its vision to create life-changing opportunities through homeownership, UMortgage plans to continue welcoming new loan originators to its innovative platform. After doubling its number of loan originators in Q2 and continued growth through Q3, UMortgage has set a goal to support a team of at least 350 LOs by the end of the year. 

As the UMortgage platform continues to support a greater number of Loan Originators and in turn, homeowners, the team continues to raise the bar in Q4. After breaking its record high lock volume for one week at the close of September,, UMortgage is raising the bar and is aiming to lock at least 1,375 loans in Q4 of 2022. 

While the company continues to scale through the remainder of 2022, UMortgage leadership recognized an opportunity to measure the internal impact of the relationships curated with its loan originators. The company is excited to implement a new LO retention goal of 95% for the quarter to foster accountability in remaining the best platform for mortgage professionals to originate loans.

UMortgage loan originators are able to win deals and provide a more affordable mortgage despite difficult market conditions with a multitude of lender partners and products at their disposal. To acknowledge the success of its LOs, the company has set a new goal for the quarter to convert 80% of loans locked and 40% of credit pulls into funded loans.

UMortgage is prioritizing the optimization of its Operations support. In August and September, the company announced Sabrina Lopez as Vice President of Operations and hosted an Operations Open House, which is kicking off a growth plan which involves onboarding more than 250 Operations team members over the next six months. 

The goal of this planned growth is to optimize loan processes and continue to improve its best-in-class client experience. UMortgage plans to materialize this goal in the form of a 12-day cycle time from application started to clear to close. 

Faster cycle times will enable UMortgage LOs to provide their clients with a more predictable homebuying experience and, in turn, help maintain the company’s collective Net Promoter Score (NPS) of at least 90. As of September 22, UMortgage continues to be the industry leader with a 91 NPS. 

In Q3, the company also rolled out their LO NPS—a survey designed to gauge Operations team performance per each loan. The rollout of the LO NPS allows Loan Originators to provide feedback on team performance and offers a greater insight into areas of opportunity and optimization.

These goals were cultivated to align with UMortgage’s vision to create life-changing opportunities through homeownership. Additionally, these benchmarks work in tandem to make UMortgage the ideal platform for LOs of any background—retail or wholesale. 

If you’d like to learn more about the UMortgage platform and the company’s plans to achieve all of these Q4 goals, sign up for the weekly UMortgage Discovery Call which occurs virtually through GoToWebinar every Thursday at 2pm EDT.

About UMortgage
UMortgage is an innovative mortgage platform which helps Loan Originators grow their business and create life-changing opportunities through homeownership. Each LO is able to scale with a large portfolio of lenders available at their fingertips, top-of-the-line technology which allows them to work from anywhere, and dedicated Operations support with clear communication through each step of the loan. With LOs licensed nationwide, UMortgage is providing opportunities to create strong communities through financial literacy, support, and advocacy.

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