Overview
The Problem
Titan Bank felt that their Loan Origination System (LOS) “Bonus” was slow and inefficient. A matter of fact, many functions no longer worked, resulting in perceived slow Processor and Close performance on closing residential loans. It was also 100% internally supported. Senior Leadership of the bank decided to replace this LOS with a new one “Extreme” that was customized by the vendor Idea Concepts and supported by them as well. This replacement deployed in 2017, and bank leadership wants to know if it improved the bank’s ability to process loans, and resulted in reduced headcount costs for residential loans. Speed of processing applications is key to getting new customers and repeat business.
Your Challenge
Your international consulting company, Ventures International Consulting has been selected by Titan Bank to explore data provided from its Datamart, and answer key management questions. Further, they request help in developing a dashboard for management of their Loan Processing Group to aid in continued monitoring of performance. Your team’s job is to address these management questions in an assessment and deliver a loan processing dashboard. The assessment should also recommend further actions that management can take to address identified operational weaknesses. Your final assessment and recommendation, as well as the Loan Processing Dashboard is due <date>; your deliverables include an audio PowerPoint presentation intended for Titan Bank CEO, Jane Andrews, and her Executive Committee, as well as a useable Loan Processing Dashboard that is easy to use.
Your team members are geographically dispersed, and your travel budget is limited, so you will be using your own partition of Team Discussion Areas for this project to collaborate on building your proposal and Dashboard. This component of the class website is now in place for you to schedule your work, hold team discussions, load and share documentation, create a plan, and finally develop your final presentation and Dashboard.
A Few Facts and Figures
ØStages of a Residential Loan Origination: Processing, Approval, Closing, and Funding.
ØLOS: Basically a workflow application for loan creation, approval, and closing/funding.
ØProcessor Role: Each assigned to specific Sales Team; Gathers customer documents from Sales Team, creates loan application, and manages (owns) application through approval, closing, and funding.
ØCloser Role: Closes and funds approved loans.
ØAppraisals are done through an outside Vendor “Apex”; the vendor receives requests via the LOS, and delivers Appraisal reports directly to the LOS.
ØExtract file in Excel is provided.
ØPayroll Cost (blended rates)
oProcessor: $30hr
oCloser: $20hr
oAssume 40 hour work weeks
Executive Management Questions
VP of Business Management would like to know…
Is the use of the new LOS system Extreme resulting in faster processing of loan applications through closing as compared to the old system Bonus?
Are we saving money with this new system?
Are there any issues with regard to the data itself, like time stamps, etc. needing attention by the Data Team?
In reviewing the data, are there any other weaknesses or opportunities you see regarding loan processing using Extreme that could result in targeted areas for process improvement.
Would you conclude that switching from Bonus to Extreme improved Loan processing? Please explain.
VP of Sales would like to know…
What Sales Team performance opportunities can you identify?
What would be my game plan for addressing improvement of Sales Team performance if any?
VP of Loan Processing would like to know…
Which Processors and Closers are doing great versus those needing additional training?
Are there any issues with regard to timely ordering and receipt of appraisals? Note: receipt of appraisals are required before a loan can be approved.
Director of Loan Processing requests…
An Executive Dashboard to manage performance of both teams - Processors and Closers.
oUse of Pivot Tables in Excel or Tableau
oSpreadsheet data files will need to be imported or copied over using copy/paste
oNeed to provide instructions for use
Side Note
Interestingly, your instructor is well versed in LOS deployment and banking, so you can ask him additional general questions!
PowerPoint Presentation
Your PowerPoint presentation should be about 15 to 25 slides in length.
Please include at least three references on a separate slide, with citations in the body of your presentation, both using APA style. See the GGU library site for APA style information. I suggest using Section 12 of the syllabus as a guideline for analyzing the case. Remember, this is a presentation to the executive team, so your final slides should be what you would expect to see at a business meeting. Avoid using gaudy colors, cute cartoons, clever sayings, etc. Your final presentation should be uploaded no later than the date provided in the syllabus. No exceptions.
Dashboard & Tableau Use
Regarding the dashboard, you may use PowerPoint, Example, or Tableau to create. I need Powerpoint, Dashboard and word document in detail.