Mortgage Payment Processing Consolidation

Client Need: A large national mortgage bank, experiencing a payment processing bottleneck and exceptions backlog resulting from a site consolidation, requested assistance with consolidation issues including increased volumes, multiple systems and processes, turnover and operational risk.

Solution: BenchMark conducted root cause analyses of processing bottlenecks and exceptions. Processes were redesigned and improved controls were identified and implemented. Organizational recommendations were made to better align functions; training was provided to inexperienced staff and project management support was provided for research and resolution of exceptions.

Results: All payment backlogs and exceptions were eliminated, reducing high operating expense, risk and customer inquiries/complaints. Processes and controls were improved and inexperienced staff was trained.