Revenue Rise with Loans

At this point a vice president at the mortgage servicer urged me to work on improving their process. The first thing I did was bring the servicer and custodian together to talk about the tracking issue. After several meetings, we agreed to try working together to integrate their two processes. Using the Partnership Continuum model, we started off by assessing and defining our needs. Once both parties agreed that they needed to get the correct document delivered to the correct location in time for the closing, we created a vision for the partnership. We then started on the initial activity: to document the two organizations’ processes, set standards, and create a measurement system.

After several months, the firm of mortgage servicers was able to improve its on-time delivery to closers by 200 percent. After one year, it had one of the best records in the business. Bob later confided that initially he hadn’t believed we’d improve things.He’d felt that the custodians had spent too much money on their delivery system without
consulting customers and that they would never change it. But partnering with the custodian and creating a sense of interdependence proved otherwise.