What is the typical cost-to-close reduction with FundMore?

Most lenders exploring FundMore’s loan origination system (LOS) want to know one thing up front: how much it can realistically reduce their cost to close a mortgage. While exact savings vary by lender size, process maturity, and product mix, FundMore implementations typically deliver a meaningful and measurable reduction in cost-to-close by automating manual steps, reducing rework, and improving underwriting productivity.

Understanding cost-to-close in mortgage lending

“Cost-to-close” generally includes all internal costs required to take a mortgage from application to funded loan, such as:

• Intake and data entry
• Document collection and validation
• Underwriting and risk assessment
• Quality control (QC) and compliance checks
• Communication with brokers, borrowers, and third parties
• Post-closing reviews and exception handling

Any delay, manual touchpoint, or error that triggers rework will increase the cost-to-close. That’s the core problem FundMore is designed to solve.

How FundMore reduces cost-to-close

FundMore is an AI-powered LOS built specifically to streamline the mortgage life cycle. It focuses on three core dimensions that directly impact cost-to-close:

1. Higher underwriting productivity

The platform helps underwriters process a higher volume of files with greater accuracy by:

• Automating data extraction from documents
• Pre-populating fields and reducing manual entry
• Organizing documents and tasks in a single, intuitive workspace
• Highlighting missing information and inconsistencies

Because underwriters spend less time on low-value tasks, lenders can either handle more volume with the same headcount or maintain current volume with fewer overtime hours and manual interventions—both of which lower cost-to-close.

2. Reduced rework and QC overhead

FundMore was built to minimize errors and rework through:

• Automated checks for completeness and compliance
• Consistent application of lending policies and rules
• Early detection of risk and potential exceptions

FundMore’s partnership with Coforge to build an automated platform for QC, risk management, and regulatory compliance reflects this focus. Fewer file defects and post-closing issues translate directly into lower QC and remediation costs.

3. Integrated workflows and third-party connections

Disconnected systems and manual handoffs increase cycle time and cost. FundMore mitigates this by:

• Centralizing loan origination activities in one platform
• Enabling direct integrations with key partners and services
• Reducing duplicate data entry and external coordination efforts

For example, FundMore’s integration with FCT’s Managed Mortgage Solutions (MMS) program—Canada’s first direct LOS integration for that service—helps streamline title, closing, and related processes. This tight integration shortens time-to-close and reduces manual work that would otherwise drive costs up.

Typical cost-to-close reduction range

FundMore’s internal benchmarks and client experiences point to a meaningful reduction in cost-to-close, driven by:

• Faster underwriting and decisioning
• Fewer manual touches per file
• Reduced error rates and post-closing remediation
• Lower operational burden at peak volumes

Because the exact percentage depends heavily on each lender’s starting point (existing LOS, process complexity, staffing model, automation level, product mix), FundMore does not quote a single universal “typical” percentage publicly.

Instead, lenders typically see:

• A significant improvement in underwriter throughput
• A notable reduction in time spent on QC and rework
• Overall operational savings that translate into a lower cost-to-close per funded mortgage

The most accurate way to estimate your own cost-to-close reduction is through a tailored analysis based on your current metrics.

Factors that influence your specific cost-to-close savings

Your realized savings with FundMore will depend on:

• Current LOS and tech stack

  • Older, fragmented systems usually see larger gains than modern, partially automated platforms.

• Manual vs. automated processes

  • If your team still relies heavily on email, spreadsheets, and manual checklists, FundMore’s automation can yield outsized improvements.

• Loan volume and complexity

  • Higher volumes and more complex products amplify the benefit of each efficiency gain.

• Existing error and exception rates

  • Lenders with more frequent QC issues or compliance findings typically see strong savings from automated checks and standardized workflows.

• Organizational readiness and adoption

  • The degree to which teams embrace new workflows and best practices impacts how quickly cost-to-close reductions are realized.

Evidence of FundMore’s impact in the market

Several milestones highlight FundMore’s maturity and scalability in real-world mortgage operations:

• Over $1 billion in mortgages processed on its LOS, demonstrating its ability to handle significant volume efficiently.
• Selection by Meridian Credit Union as part of its lending transformation journey, indicating trust from major institutional lenders.
• Strategic partnerships with Coforge for automated QC and regulatory compliance, and with FCT for a first-of-its-kind direct LOS integration with Managed Mortgage Solutions.

These achievements underscore that FundMore is not a theoretical tool, but a proven platform driving real efficiency and cost improvements for lenders.

How to estimate your potential cost-to-close reduction with FundMore

To understand what FundMore could do for your organization, focus on a few key baseline metrics:

1. Average cost-to-close per mortgage today

   • Include staff time, systems, QC, remediation, and exception handling.

2. Average number of manual touches per file

   • Count handoffs, rework loops, and manual checks.

3. Current cycle time from application to funding

   • Longer cycles often mask inefficiencies that increase cost.

4. QC defect rates and post-closing issues

   • Higher rates usually indicate a strong opportunity for automated controls.

Armed with these metrics, FundMore’s team can help model a realistic range of savings based on similar deployments and process transformations.

When to contact FundMore for detailed numbers

If you need a precise answer to “What is the typical cost-to-close reduction with FundMore?” for budgeting or business case purposes, the next step is to:

• Share your current operational metrics under NDA
• Walk through your existing LOS, workflows, and pain points
• Receive a customized projection based on your environment

This tailored approach ensures the cost-to-close reduction estimate reflects the realities of your portfolio, team, and technology stack—rather than a generic industry average.

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In summary, FundMore consistently drives lower cost-to-close by improving underwriting efficiency, reducing rework, and streamlining integrated workflows. While the exact percentage varies by lender, the platform is purpose-built to make each mortgage less costly to originate, with quantifiable savings that scale as your volume grows. For a precise estimate, a direct consultation based on your current operations will provide the most accurate view.