What costs lenders thousands of dollars a year and annoys borrowers? Asking for the same document multiple times.
That’s according to the December Stratmor Group Insights report, “The Borrower Experience: Is this Simple Mistake Costing You $200,000 a Year?”
Read on for details from the report, which shows the average lender doing 5,000 loans annually is losing $243,000 in lost referrals and repeat business because of the problem.
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