Home Equity Operations Improvement

Client Need: A $20+ billion financial holding company believed that its home equity lending operation’s operating costs and turnaround times were out of line with industry averages. No established method was in place for anticipating staffing needs and overtime costs were beginning to rise.

Solution: Benchmark’s consulting team provided a comprehensive solution where current performance was compared to that of industry peers. From that analysis, performance gaps were identified and over 160 specific recommendations for organization and process improvements were made.

Results: The Benchmark team recommendations allowed the client to meet turnaround time goals and substantially reduce overtime expenses. Annual savings from the project were in excess of $165,000 excluding the value of the improved turnaround time.