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Visio-based BPMN Model for Mortgage Processing

Visio-based BPMN Model for Mortgage Processing
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Posted by: Derek Weeks on Thursday, May 26, 2011

A Jump-Start on BPMN Modeling

BPMN is the standard for business process modeling, but business analysts are frequently at a loss for where to begin their process modeling efforts. To help jump-start BPMN process modeling and analysis efforts, we are supplying a set of pre-built models and simulations for popular processes. These models were built through real-world process improvement engagements. These models are not expected to match your organization’s own processes, but should help you get a head start on your modeling and process improvement efforts. To help you better understand the models, simulation results, and improvement reports, a companion guide (.pdf) is offered in the .zip file to provide a summary of the business situation that established their creation.
More About the Mortgage Loan Modification Process Situation
In May 2011, the Mortgage Banker’s Association reported that 8.1% of all residential property loans in the United States were delinquent 90 days or more. In order to help home owners better manage their mortgage challenges, the Obama Administration’s “Making Home Affordable Program” created a defined loan modification process through which borrowers who are in default, at risk of imminent default, or in foreclosure can have their loans modified to a more affordable monthly payment targeted at 31 percent of their monthly gross income.
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 numerous 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.
Improvement of this process at Big Corp began with the manager of the RMA processing team clearly defining the following goals:
»» Average overall processing time not to exceed 7 hour SLA
»» Keep current RMA staffing levels at or below 20 individuals
»» Reduce RMA processing costs by 25%
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Bhagwati Kukrani posted on Monday, January 23, 2012 5:37 AM
gud one
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