Mortgage Process Improvement

MBA 505: Business Process Improvement

Summer II 2012

Final Project

Issuing A Mortgage Loan

Table of Contents

Table of Contents _________________________________________________2

1. The Business Context 3

2. The Process 4

3. Service/Process Metrics 4

4. The “As-Is” Business Process 5

5. Critique/Diagnosis 7

6. Improvement and Innovation 9

7. The “To-Be” Process 11

8. Implementation 12

Appendix 14

1. The Business Context

First Citizens Bank is a Southeastern financial services company dedicated to providing a full range of retail, business and wealth management solutions. The company is a relationship-focused bank committed to long-term success, and its core values are service, accountability and common sense.

The mortgage business unit plays a key role in the company’s retail banking operations, and mortgage revenues account for over 50% of the bank’s overall profits. It is comprised of the quick decision (QD) team, the mortgage processors, underwriters and the loan closing team. The role of the QD team is to re-enter mortgage...