Two leading global mortgage firms, Loan Factory and Alliance Mortgage Group, have demonstrated that Vietnam offers a strong operational model for mortgage companies seeking to improve efficiency while reducing costs. Their real-world experiences show that building shared services centers in Vietnam is not just a cost-cutting measure, but a strategic move that enables companies to scale operations, improve processing speed, and stay competitive in a demanding mortgage market. Vietnam’s combination of skilled English-speaking talent, cost-effective labor, and mature outsourcing infrastructure makes it an increasingly attractive destination for global mortgage operations.
The Mortgage Industry’s Operational Challenge
Before diving into these success stories, it helps to understand why mortgage companies are looking overseas in the first place. The mortgage business is heavily dependent on back-office operations – loan processing, documentation review, compliance checks, and customer support. These tasks are document-heavy, detail-oriented, and often repetitive. When a mortgage company grows rapidly, back-office teams must grow at the same pace, which means hiring more people in expensive labor markets.
In the U.S., Australia, and Europe, hiring loan processors, administrative staff, and support personnel comes with high costs. Not just salaries – but also office space, benefits, insurance, training, and infrastructure. This fixed-cost structure makes it difficult for mortgage brokers to scale operations quickly without dramatically increasing their overhead. For a company growing at the speed of Loan Factory (from 78 to over 1,000 loan officers in one year), the traditional hiring model becomes unsustainable. This is where Vietnam enters the picture – not as a second-best option, but as a strategic advantage.
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Story 1: Loan Factory’s Rapid Scaling Success
The Company and the Problem
Loan Factory is a U.S.-based mortgage broker founded by Thuan Nguyen, a Vietnamese American entrepreneur. The company experienced explosive growth, with its loan officer team expanding from 78 to over 1,000 in just one year. This kind of rapid expansion creates an immediate operational crisis: How do you scale your back-office operations fast enough to support 1,000+ loan officers without hiring hundreds of new processors in the U.S.?
Scaling domestically would have required opening new office space, recruiting dozens of loan processors at U.S. wages (typically $50,000-$70,000 annually), managing benefits and overhead, and training each person individually.
The Vietnam Solution (2020)
In 2020, Loan Factory made a strategic decision to establish an outsourcing operations team in Vietnam. Rather than fighting the geographic constraint, they leveraged it. The company set up a shared services center in Ho Chi Minh City with a clear, focused mission: handle the back-office work that was holding back their U.S. operations.
Specifically, Loan Factory’s Vietnam team took on two core roles:
- Loan Processor: Reviewing loan applications, verifying documentation, checking financial details, and ensuring compliance with mortgage regulations
- Customer Support: Handling inquiries from borrowers and coordinating with U.S. loan officers
The critical detail: Loan Factory’s job postings explicitly state “Loan Processor (U.S. timezone),” meaning the Vietnam team works night shifts to align with U.S. business hours. This allows borrowers and loan officers to submit documents at the end of the U.S. day and have them processed and reviewed by the next U.S. morning. It’s a continuous workflow that keeps the machine running 24/7.
Story 2: Alliance Mortgage Group’s Shared Services Model
A Different Approach to the Same Problem
Alliance Mortgage Group (AMG) took a somewhat different path to the same destination. This Australian mortgage broker and finance brokerage firm operates in a different market, at a different scale, and with a different business model than Loan Factory. Yet by mid-2025, AMG arrived at a very similar conclusion: Vietnam could transform their operational efficiency.
AMG implemented what they call the “remote + offshore support” model. The structure is straightforward:
- Core operations stay in Australia: Loan brokers in Australia continue to do what they do best – interact with clients, identify opportunities, and close deals
- Back-office operations move to Vietnam: Credit processors, administrative staff, and loan-processing support move to the Vietnam center
This is subtly different from Loan Factory’s model. While Loan Factory essentially outsourced its entire back-office to Vietnam from the start, AMG maintained their brokers in Australia and selectively outsourced specific functions. The Australian brokers remained the face of the company and the decision-makers for clients. Vietnam handled the paperwork and processing once deals were struck.
The Two-Part Mission
Why AMG Built a Vietnam Model: Two Clear Objectives
AMG’s decision to build this model had two primary objectives, and understanding both is important because they show different ways mortgage companies think about Vietnam outsourcing.
Objective 1: Lower Costs via Wage Arbitrage
The first mission is straightforward: cost reduction. By hiring credit processors, administrative staff, and loan-processing support in Vietnam, AMG could pay significantly less than they would in Australia.
A credit processor or administrative staff member in Australia typically earns $50,000-$70,000 AUD annually. In Vietnam, the same role – with similar skills and experience – costs approximately $8,000-$12,000 AUD equivalent. That is not a small difference. That is a 75%+ reduction in base salary.
How the Australia – Vietnam Workflow Works
Understanding how AMG’s model actually works is important because it shows the operational clarity that enables outsourcing success.
A client in Australia approaches an AMG broker with a mortgage inquiry. The broker meets with the client, understands their needs, gathers initial information, and identifies a suitable loan product. The broker handles the relationship, the negotiation, and the deal structure – this is the high-value, client-facing work.
Once the client agrees to the loan, the transaction moves to the Vietnam center. The Vietnam team handles:
- Credit processing (reviewing credit reports, checking debt-to-income ratios, assessing credit risk)
- Documentation review (ensuring all required documents are present and accurate)
- Administrative coordination (managing correspondence, tracking application status, preparing files for underwriting)
- Compliance checks (ensuring the application meets regulatory requirements)
The Vietnam team prepares the loan file for underwriting and funding. They coordinate with external parties (underwriters, lenders, title companies) as needed. Once the file is ready, it moves back to the Australian broker, who coordinates the final steps with the client (closing, funding, handoff).
This workflow worked because each party has a clear role. Brokers do what brokers are good at. Vietnam processors do what they are good at—handling standardized, documentation-heavy tasks. The handoff points are clean, and the quality gates are clear.
The Economics: Why Outsourcing Delivers Such Strong Savings
Both AMG succeeded because they cracked the economics of outsourcing. The numbers are compelling, so it is worth understanding where the savings actually come from.
Industry research suggests 40-60% reduction in operational costs by strategically offshoring mortgage processing and support tasks. Some estimates go even higher – up to 70% savings on administrative and processing costs versus in-house teams in expensive markets. These are not theoretical numbers; Loan Factory and AMG are living proof they are achievable.
Vietnam’s role in the future of mortgage operations is secure. The talent pool is real, the economics are compelling, and the operational models are proven. Companies that have not yet considered Vietnam for mortgage back-office operations are falling behind competitors who have. For mortgage brokers and lenders looking to improve their cost structure while maintaining quality, Vietnam is not an outlier strategy – it is becoming the industry standard.
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