Great Place To Work

An Interview with PrivoCorp Co-Founders – Sam Verma and Mridhul Prakash

In: Blog


Question 1: Sam, how does it feel to be named as a winner of the Stevie Award?

It is a matter of pride and humility. It is a recognition of the work we do to support our team members and mortgage industry colleagues.

Of course, this is a recognition for the entire team that has made it possible. We have always focused on delivering the best value to our lender clients. We go out of the way to ensure that we help our clients streamline their mortgage operations, lower operational costs, achieve faster turn-time, and improve overall productivity.

I really feel that we have got the most amazing team and we are fortunate to be in the industry in these trying times.

Question 2: Sam, what has been the secret behind the success for you as well as PrivoCorp?

The success of the company is measured by the number of satisfied clients we. To have Happy Clients, one part is to build a strategy, but the more important part is to consistently execute on the strategy and ensure that we are delivering value.

My co-founder, Mridhul comes with exceptional experience across operations and finance and he has been managing the team exceptionally. We always work together very closely, and I feel that in the consistent execution of the strategy, Mridhul has played a major role. Mridhul comes with nearly two decades of experience in mortgage operations and has managed several complexities in mortgage operations whether it is unpredictable volumes, turn-time, compliance, or error-prone processes.

Question 3: Mridhul, how do mortgage companies stand to benefit from services that PrivoCorp offers?

Mortgage companies with our loan processing support services achieve faster turn-time, improved accuracy while saving significant operating costs.

Our unique differentiator ‘Pay only for funded loans’ model, is a huge benefit to our clients. They are required to pay only for funded loans and not incur unnecessary costs on the loans that have not closed.

On the OCPC (Origination, Closing, and Post Closing) side of our business, we have a couple of different pricing models – our transaction-based pricing allows customers to have a more realistic cost structure based on their volumes. The FTE-based pricing allows our clients who have a good handle on their steady-state operations to gain efficiencies using our experienced team.

At PrivoCorp we have an experienced team of mortgage professionals with expertise in auditing, loan set up, underwriting support, loan verification, initial & final QC, and appraisal quality control.

Question 4: Mridhul, when you say, we help lenders achieve faster turn-time, how do you do that, what’s the secret?

Good question. Actually, our in-house experts work round the clock on different schedules – This unique differentiator gives us the edge in delivering orders ahead of the deadlines.

For the lenders we support, we have been working round the clock and making overnight deliveries.

We believe in strict adherence to Turn times (TAT). Thanks to our 24×5 work environment, we are very well appreciated in the lender community.

Question 5: Last but not least why should lenders choose PrivoCorp for their processing requirement?

Well, lenders can take advantage of numerous benefits that we offer – efficiency, flexibility, transparency, and cost savings – in that order. Our services can be easily scaled as per our clients’ requirements.  All our operations are highly efficient and streamlined to provide the best possible customer experience. We provide all these with a transparent business model and last but not least we provide our clients with huge savings in operational costs.

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