Residential and Consumer Lending Origination and Operations
This client is a Community Bank which has experienced 20% annual organic growth. The growth has been fueled primarily by branch point of sale efforts driven by aggressive advertising campaigns. Further, the Bank is known for its customer commitment and quality service. The Bank's Residential and Consumer Lending opportunities have consistently exceeded growth targets and are expected to grow at a rate in excess of the Bank's growth rate. Our client's challenge was to ensure that origination and servicing processes were sufficient to support incremental growth and optimize profitability and productivity in a manner consistent with their Customer Service standards. Our assignment was to conduct a comprehensive review of the Residential and Consumer Lending division to determine:
That best practice methodologies had been developed and maintained.
If manpower and staffing requirements properly supported quality customer service.
If the product set properly balanced Customer needs while optimizing productivity.
Cheryl Gross & Associates assigned a senior project manager to conduct an independent review utilizing interview techniques which:
Identified Residential Lending process improvements which enabled the Bank
to increase mortgage loan production 33% without adds to staff.
Identified streamlined Home Equity processes which reduced delivery time by 50%.
Identified Fee Income and Interest Income Enhancements.
Identified processes that could be standardized across all outsourced providers
to increase productivity and decrease expenses.
Project Management 