Customer
A Leading U.S. Mortgage Bank
Business Situation
- Loan input process changes (e.g. from regulations) resulted in reduced productivity and increased error rate
- Inability to meet Turn Time requirements
- 60% loans entered were being ‘pended’
- Solutioning
- Process reengineering using SmarTrans
- Separation of Inputting processes based on “Rule-based” and “Decision-based” activities (complexity)
- Created a process knowledge base for reference
Execution
- Identified approval criteria for initial qualification of loans; proactively communicated compliance requirements to the brokers/ borrowers
- Staffed for an 18 hour daily window
Value Delivered
- Productivity improvement from:
- 9 to 15 loans per day in the original process
- 13 loans per day in the two separated processes
- 50% improvement in turn time (from 90 min to 45 min)
- 5% improvement in quality
