A Loan Production Office(LPO) is a Banking Office that takes loan applications and arranges financing for corporations and small businesses, but does not accept deposits. Loan applications are subject to approval by the lending institution. An LPO has to process all the paperwork submitted by the applicant and assess the loan eligibility and do the required documentation.
Loan Production Office (LPO) for a Bank - Las Vegas
Outsource2india's Back Office Services Provided
- The typical borrowers profile is between $250,000 and $3.5 million.
- We work on Purchasing, Refinancing, Cash Out Refinancing, Construction or Expansion Loans - Conventional, SBA 7(A), Conventional 504 and Conduit loans.
- Our work usually involves going through the source documents for these (typically includes - Forms 1003, 1040, 413, 4506T, Financial Statements and Business Credit report DNBI etc) and then preparing reports in Excel Spreadsheets.
Impact on Client's Business
- Staff and related expenses was cut down significantly
- Faster Turnaround Time
- Seasonal load managed efficiently