Domo Case Studies NRL Mortgage Creates a Better Home for Data With Domo

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	NRL Mortgage Creates a Better Home for Data With Domo Domo

NRL Mortgage Creates a Better Home for Data With Domo

Domo

Technology Category	Analytics & Modeling - Big Data Analytics Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Sales & Marketing Business Operation
Use Cases	Real-Time Location System (RTLS) Supply Chain Visibility
Services	Data Science Services System Integration
Challenge	NRL Mortgage, a company with 80 branches licensed in 48 states, was previously using a BI tool designed specifically for the mortgage industry. While this tool was effective for Loan Origination System (LOS) use cases, it was not capable of leveraging data from other systems such as the general ledger, payroll, or CRM. This limitation prevented NRL Mortgage from making fully informed business decisions. Additionally, the company struggled to accurately track which lead sources generated a positive ROI, making it difficult to know where to invest its marketing time and budget. The company also faced challenges in tracking loan officer performance and managing its headcount effectively. Read More
About Customer	NRL Mortgage is a financial services company with 80 branches licensed in 48 states across the United States. The company is relied upon by customers nationwide to ensure their home purchases go smoothly, with every detail meticulously taken care of. To meet these high expectations, NRL Mortgage depends on Domo and Richey May. The company was previously using a BI tool designed for the mortgage industry, but this tool was not capable of leveraging data from other systems such as the general ledger, payroll, or CRM. This limitation prevented NRL Mortgage from making fully informed business decisions. The company also struggled to accurately track which lead sources generated a positive ROI, making it difficult to know where to invest its marketing time and budget. Read More
Solution	NRL Mortgage adopted Domo's BI & Analytics product and the RM Analyze App developed by Richey May, a Domo partner. This solution enabled NRL Mortgage to leverage best-in-class business intelligence across its loan origination process, operations, marketing, finance, and accounting. The company can now track KPIs such as cost to originate, profitability per loan officer, headcount productivity, and more. Domo also helps NRL Mortgage track and manage its leads more effectively, allowing the company to accurately manage its loan acquisition costs and reduce expenses. Furthermore, Domo aids in tracking loan officer performance and managing operations, ensuring that loans do not get stuck at any point in the mortgage process. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Big Data Analytics

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Sales & Marketing

Business Operation

Use Cases

Real-Time Location System (RTLS)

Supply Chain Visibility

Services

Data Science Services

System Integration

Challenge

NRL Mortgage, a company with 80 branches licensed in 48 states, was previously using a BI tool designed specifically for the mortgage industry. While this tool was effective for Loan Origination System (LOS) use cases, it was not capable of leveraging data from other systems such as the general ledger, payroll, or CRM. This limitation prevented NRL Mortgage from making fully informed business decisions. Additionally, the company struggled to accurately track which lead sources generated a positive ROI, making it difficult to know where to invest its marketing time and budget. The company also faced challenges in tracking loan officer performance and managing its headcount effectively.

About Customer

NRL Mortgage is a financial services company with 80 branches licensed in 48 states across the United States. The company is relied upon by customers nationwide to ensure their home purchases go smoothly, with every detail meticulously taken care of. To meet these high expectations, NRL Mortgage depends on Domo and Richey May. The company was previously using a BI tool designed for the mortgage industry, but this tool was not capable of leveraging data from other systems such as the general ledger, payroll, or CRM. This limitation prevented NRL Mortgage from making fully informed business decisions. The company also struggled to accurately track which lead sources generated a positive ROI, making it difficult to know where to invest its marketing time and budget.

Solution

NRL Mortgage adopted Domo's BI & Analytics product and the RM Analyze App developed by Richey May, a Domo partner. This solution enabled NRL Mortgage to leverage best-in-class business intelligence across its loan origination process, operations, marketing, finance, and accounting. The company can now track KPIs such as cost to originate, profitability per loan officer, headcount productivity, and more. Domo also helps NRL Mortgage track and manage its leads more effectively, allowing the company to accurately manage its loan acquisition costs and reduce expenses. Furthermore, Domo aids in tracking loan officer performance and managing operations, ensuring that loans do not get stuck at any point in the mortgage process.

Impact #1	NRL Mortgage now has a superior understanding of its business, enabling it to make informed staffing decisions. For instance, when five underwriters left the company, NRL Mortgage was able to determine that they had the right level of staff to handle its anticipated needs, saving the company from replacing approximately $750,000 in salary while avoiding unnecessary layoffs.
Impact #2	The company can now accurately manage its loan acquisition costs, helping it reduce expenses.
Impact #3	NRL Mortgage can now track loan officer performance more effectively, ensuring each loan officer delivers the proactive experience the company promises its customers.

Impact #1

NRL Mortgage now has a superior understanding of its business, enabling it to make informed staffing decisions. For instance, when five underwriters left the company, NRL Mortgage was able to determine that they had the right level of staff to handle its anticipated needs, saving the company from replacing approximately $750,000 in salary while avoiding unnecessary layoffs.

Impact #2

The company can now accurately manage its loan acquisition costs, helping it reduce expenses.

Impact #3

NRL Mortgage can now track loan officer performance more effectively, ensuring each loan officer delivers the proactive experience the company promises its customers.

Benefit #1	Saved approximately $750,000 in salary by avoiding unnecessary replacements of staff members.

Benefit #1

Saved approximately $750,000 in salary by avoiding unnecessary replacements of staff members.

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Overview

NRL Mortgage Creates a Better Home for Data With Domo

Operational Impact

Quantitative Benefit