Situation

The current process for communication and holding partners accountable was causing backlogs of redundant reports and, worst of all, slow processing times. Bank managers knew they needed to improve while maintaining regulatory compliance.

Team Engagement Strategy

Five frontline employees, including mortgage officers and administrative staff, were tasked with tackling this challenge and were equipped with Rapid Action, a team-based project management toolkit, to get this done quickly.

Rapid Action Project Charter

How can we streamline and standardize the third-party originators (TPOs) approval and re-certification process in order to improve SLA turn times, meet re-certification deadlines and reduce department reports?

Sample Solutions Implemented

1. Established TPO Requirements to reduce cycle time and hand offs.
2. Synchronized Comergence and manual approval systems for better collaboration.
3. Developed a uniform application review process to improve consistency.
4. Reduced and streamlined reporting.