Situation

The organization’s loan officers were struggling to lock and close digital leads as often as they would traditional leads because face-to-face conversation was minimal and gathering the proper documents in a timely manner was cumbersome. They wanted to give frontline lenders more training but wanted input and didn’t know where to start.

Team Engagement Strategy

A team of loan officers, support and administrative staff were engaged to solve the problem of low close-rates on digital leads. They used Rapid Action, a tool for guiding teams to success, as the foundation of their project to find success quickly in implementing employee ideas.

Rapid Action Project Charter

How can we improve the processes and tools used by Direct Lending Loan Officers for digitally sourced leads in order to maximize conversion, pull through and funding rates for these leads?

Sample Solutions Implemented

1. Created checklists for loan officers on digital lead follow-up to ensure consistent practices.
2. Established job aids to organize workflow for loan applications stemming from digital leads.
3. Created a new process to drive website review completion.
4. Created a dedicated Digital Leads team to drive sales training and lending support.