45% productivity increase and 50% faster turn time in residential mortgage input function

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
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