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Workplace Solutions - Quality Control

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Several years ago, the CEO of a major consumer lending organization picked up the six inch binder that comprised the quality control report and in frustration asked /Do I have a problem or don?t I?/. This frustration has been repeated over and over as companies try to deal with a process imposed by investors that makes even the most seasoned mortgage bankers roll their eyes. The perception that quality control is part of a /volume prevention/ exercise that adds no value to the company is prevalent within most mortgage operations as well as other consumer lending areas.

The truth of the matter is that this perception is correct as quality control is done today. Having a full time staff that does nothing but look for mistakes in loans with no idea if the issues identified are representative of a larger problem is a waste of valuable capital resources. Being required to respond to lists and lists of /mistakes/ on loans which doesn?t tell you anything about a problem in your organization is a waste of time. These are resources no financial institution can afford to waste!

BUT it doesn?t have to be that way. The main purpose of a quality control program is to test the processes used every day to determine if in fact, they are producing what you want them to produce. Once issues are found in the process, you can determine if they create risk to your organization. If so, take action that you know will address the problem. However opportunity may lie in those issues that are identified, but that create no risk. Questions that can be asked of these issues include Is this a process that can be reduced or deleted? Is there an opportunity to expand product offerings or the base of operation?

A sound QUALITY CONTROL PROGRAM can help you answer these questions if it is done right. Employing basic concepts utilized as part of quality control programs in successful companies, the rjbWalzak Consulting methodology establishes a quality control process that works for you, not against you. You can expect to see a streamlined process that covers more areas of the organization, identifies real risks and reduces costs. Furthermore you will have an educated staff that functions as a critical part of your overall risk management team and assists you in enhancing your investor relationships.
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