The mortgage industry is very cyclical, driven largely by fluctuating interest rates. So, when low interest rates caused mortgage demand to skyrocket, American Financial Network (AFN) needed to grow fast to keep up. But with fierce competition for skilled workers in the U.S., hiring became a major challenge. By partnering with Emapta for offshore staffing, AFN found the solution — and increased their loan processing by 300%.
CHALLENGE
Overcoming Hiring Challenges During a Surge in Mortgage Demand
When mortgage rates hit record lows, it often leads to an increase in consumers buying homes and refinancing their existing loans. This then puts a strain on loan processing companies like AFN because they begin receiving more loans than they could handle, leading to employee burnout.
In AFN’s case, this meant they needed to hire more employees to manage the workload — from loan processors and underwriters to customer support and IT. However, AFN wasn’t the only mortgage company seeking out professional talent. Because of the level of mortgage demand, hiring local talent with expert-level knowledge became extremely difficult and expensive.
With so many staffing needs and hiring challenges, AFN decided to seek alternative solutions.
SOLUTION
Rapid Talent Expansion Through Emapta’s Outsourcing Model
AFN turned to Emapta to help ease the pressure caused by the U.S. talent shortage. Our team quickly identified the Philippines as a strong source of experienced mortgage professionals who could offer the skills and support AFN needed.
In less than nine months, AFN’s offshore team grew rapidly. Starting with just three team members, they expanded to over 100 — a major achievement that allowed them to scale faster than ever. Today, AFN has more than 150 offshore team members working in key areas, like loan processing, accounting, IT, and human resources.
A big part of this success was a well-organized onboarding process, which made it easy for AFN to stay in control of hiring, training, and daily operations. We also handled the administrative details, freeing up AFN to focus on what they do best.
With an easy integration and cultural fit, the offshore team became a crucial asset for AFN. This allowed AFN to keep their high service standards and take advantage of opportunities they might have missed because of staffing shortages.
“We went from three to 100 people in nine months — something we couldn’t have done onshore. Emapta was instrumental in helping us staff up rapidly, and their team’s professionalism and dedication have been exceptional.”
OUTCOME
300% Growth in Loan Processing and Unprecedented Business Expansion
“Working with our offshore team has been one of the most positive experiences in my career,” Uldricks said. “Their dedication, eagerness, and professionalism have driven our growth. Without them, achieving that 300% increase in loan processing wouldn’t have been possible. Emapta truly delivered beyond our expectations.”
By leveraging Emapta’s offshore talent, AFN has achieved remarkable operational efficiencies, including:
300% Increase in Loans Processed
One in every 300 home loans in the U.S. is now with AFN. This substantial growth was driven directly by the integration of offshore staff who provided the expertise and bandwidth to handle heightened demand. Without the mortgage expertise and experience of AFN’s offshore team, this level of growth would have been impossible.
Seamless Integration of 150+ Offshore Professionals
One of the ways our outsourcing model at Emapta is different from traditional BPOs is that we consider your company culture when sourcing talent. We didn’t just source individuals with loan processing experience. We carefully recruited industry experts who would seamlessly fit in with AFN’s brand culture and values. This, along with tailored training for all candidates, led to an easier onboarding experience and quicker results.
Key Stats
increase in loans processed with the addition of offshore staff
expansion of service to customers in all U.S. states
home loans processed after successful integration of offshore teams
offshore professionals seamlessly onboarded across departments
CONCLUSION
A Partnership Built on Shared Values and Success
AFN’s decision to supplement their in-house teams with offshore talent has greatly increased their ability to grow, without losing the quality of their services.
“Their ability to find and onboard top talent was unprecedented in our industry,” according to Uldricks. “Emapta delivered a solution that perfectly aligned with our needs, and the results speak for themselves. We’ve referred many of our peers in the mortgage industry to them and couldn’t be happier with our decision.”
In a fiercely competitive market, AFN’s partnership with Emapta stands as a testament to the power of dedicated offshore teams in overcoming industry constraints, driving business growth, and ensuring long-term success.
