Mortgage Loan Appraisal Process Optimization

Client Need: A national mortgage lender was experiencing extended turn around times and delays in its appraisal fulfillment and vendor management area. The lender was interested in organizational and process change recommendations to optimize the appraisal fulfillment area including staff utilization, appraisal valuation software and appraisal work load assignments to staff, fee appraisers and vendor management companies.

Solution: BenchMark conducted client interviews and documented the current operating environment including workflows, processes, procedures and staffing. Optimization recommendations were developed that included organizational consolidations, process streamlining, nationalizing the appraisal vendor management function and the creation of a ‘champion/challenger’ environment for prioritizing new appraisal order placement.

Results: Benchmark’s change recommendations identified savings of $2.6 million annually from specific consolidation and streamlining recommendations.