Case Studies

Northpointe Bank Gains Competitive Advantage with Spruce

About Northpointe Bank

Northpointe Bank is a nationwide lender with a mission to be the best bank in America by bringing value and innovation to the people they serve. CEO & Founder Charles Williams began with a clear vision from the outset: to become a trusted resource for sound financial solutions, where real people work to provide an exceptional level of service for each and every customer.

Today, this vision has led to success for Northpointe. The company fosters a collaborative culture that delivers long-term success and growth, while measuring its performance by the value it generates for customers, employees, and shareholders. In May 2017, the ICBA (The Independent Community Bankers of America) ranked Northpointe as a top-performer among financial institutions in the nation.

The Problem

According to the MBA’s Quarterly Mortgage Bankers Performance Report, the cost to originate increased almost $700 to $9,299 per loan from Q4 2018 to Q1 2019. In light of these rising compliance and regulatory costs, Northpointe was looking for a title and closing partner that could give them a more competitive edge by lowering the costs for customers—through cost efficient service, customer-centric closings, and a forward-thinking approach to new and emerging technologies.

The Solution

“We were looking for a company that is not only cost conscious for our borrowers, but can also thrive in both today’s and tomorrow’s environment. We now have options for our customers we haven’t had from a title company before, as well as a resource to guide us as we continue to explore the digital closing world.”
Alan Lacey, RVP

Cost-Effective Service

Northpointe lends nationwide and needed a title partner that provides cost-effective service in its major metros. With Spruce, they are able to consistently pass on lower closing costs to customers. In a lending environment of increasingly compressed margins, passing on any available efficiencies and savings becomes a huge differentiator. By using available discounts and building technology that makes our closing process more efficient, Spruce saves Northpointe’s customers as much as 25% on closing costs.

Customer-Centric Closings

Northpointe always strives to provide a fantastic customer experience. The lifecycle of a loan has many players involved from origination through closing, and some companies that are less focused on the customer experience can lead to negative reviews and a tarnished reputation.

Northpointe chose Spruce because our mission, like Northpointe’s, is to make real estate transactions amazing for everyone involved.

Future-Forward Approach

We built this love for great customer service into both our product and best-in-class operations team. Spruce’s online closing experience has an average customer rating of 8.9/10, and our people are industry veterans with deep title expertise and a passion for upending the status quo. We proactively introduce ourselves to Northpointe’s homeowners to transparently explain why we’re reaching out and how we fit into the process—all with the goal of making them feel safe and secure.

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