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In order to process requests under this program, homeowners needed to submit a Request
for Modification and Affidavit (RMA) form to their bank.
For the many banks, processing of RMA requests has been a manually intensive process,
with documents being collected, organized, and tracked across paper folders on desks,
email messages, fax machines, and mailrooms – all across numearous processing
departments. Big Corp was one such bank.
Big Corp is a large regional bank headquartered in Boston that serves four New England
states. In 2010, the bank processed over 100,000 home mortgages for its clients. Like
many banks that offered mortgages through the real estate bubble, delinquencies and
defaults are an unfortunately part of their business today. Big Corp employs 20 people in
its loan processing center to assist with RMA requests. F ollowing process discovery, the
business analyst created a model
Challenges with Processing Modification Requests of the current RMA process.
The RMA team at Big Corp processes over 500 RMA requests each month. Although
twelve processors assigned to handle the front end collection and reviews, they were
challenged to complete their work in a timely manner. When documentation was missing,
the customer or another process worker in the bank was asked to send in the required
information. Tracking was completed using hand-written checklists that were attached to
each RMA applicant’s folder. Coupling incoming faxes and emails with the physical folder
resulted in processing times that exceeded the Big Corp’s service level agreements.
Improvement of this process at Big Corp began with the manager of the RMA processing
team clearly defining the following goals:
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