Cornerstone Advisors’ Perspective on Technology Trends in Loan Operations


In Q3 2015, Cornerstone Advisors surveyed 138 professionals from U.S.-based financial institutions (FIs) about their loan processing operations. The survey included questions about imaging policies, document preparation, e-signatures, technology usage, and organizational issues.


Key Findings:

  • Many FIs experience tension between front- and back-office loan operations staff. Improving loan operation processes—and the technologies that support the processes—can mean less tension, better alignment within the organization, and more tech-savvy loan operations staff.
  • Many FIs over-retain physical documents. More than half of survey respondents (56%) retain documents for more than 30 days before shredding. This creates additional risk and expenses for the physical storage and management of documents.
  • The use of ad hoc technologies is prevalent. Nearly four in 10 respondents use email or spreadsheets and databases to track service requests and missing/expired documents
  • Loan operations staffing will decrease as the role changes. Continued adoption of imaging and e-signatures will reduce loan operations staffing levels.