Residential mortgages and HELOCs were routinely delayed because of a lack of effective communication between the consumer lending division and their vendor partners. Vendors would not order the right documents at the right time and pull-through was suffering.
A team of frontline employees was pulled together from pertinent areas of the bank – mortgage underwriting, vendor management, loan officers, etc. – to solve this problem using Rapid Action, a team-based method for managing fast projects.
How can we optimize vendor order timing on Home Equity applications in order to maximize pull-through efficiency of funded loans and reduce time and expenses on unfunded loans?