A portion of a mortgage fulfillment process at loan center #…
A portion of a mortgage fulfillment process at loan center #[l] is described below. Step Process Step CVA (in minutes per application) 1 Setup [s] 2 Underwrite [u] 3 Process [p] 4 Review 0 5 Close & Fund [c] Assume the loan center operates for one 8-hour shift each day. 6800 loan applications are currently in process, and the daily exit rate is 340 loans per day. What is the process cycle efficiency for this process? (Answer as a percentage, to 2 decimal places.)
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