Dispelling the myth that there can be only one perfect process to achieve a desired result.

Welcome to the March 2024 Insights Report

Welcome to STRATMOR Insights
Lisa Springer
Sr. Partner, CEO
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We’ve all heard the saying, “There’s more than one way to skin a cat.” As gruesome as that sounds, this idiom effectively conveys the message that there are multiple methods to solve a problem, achieve a goal, etc. Case in point, my college Calculus professor taught us one method for solving math problems, yet, when it came time to take a test, I often chose my own path to solving each equation. As long as I achieved the desired outcome (the right answer) he gave me credit for both the path I chose and the answer I derived. He raised an occasional eyebrow, and sometimes asked me to walk him through my logic, but in the end, we celebrated my success. Communicating clear expectations, desired outcomes, and risks to navigate will enable your process design teams to be both creative and impactful when designing methodologies that fit your organization.

In this month’s InFocus article, Principals Jennifer Smith and Jennifer Fortier explore the benefits of regular process reviews and dispel the myth that there can be only one perfect process to achieve a desired result. The process designed will vary based on a variety of factors including company culture, appetite for risk, talents and skills of your team, technology resources, training and adoption techniques, and more. The key is to have confident leadership that empowers teams to choose an approach that takes these multiple factors into account when optimizing processes to achieve the desired results. Don’t miss, “On This Episode of ‘Between Two Jennifers’ — Parrying the Pitfalls of Process Improvement.”

Following the same theme, in this month’s CX Tip, Customer Experience Director Mike Seminari explains why improving the loan process and elevating the customer experience can be the key to more referrals and repeat business. Mike shares data showing where miscues in the loan process can lower NPS by 75 points and urges lenders to consider allocating some of their existing budget to process improvement. If you’re looking to “spend money to make money” in 2024, check out, “Grow Revenue in the Fertile Ground of CX.”

Thank you for joining us for the March Insights Report. STRATMOR provides a wide range of advisory services to facilitate, optimize and address the challenges lenders are facing today, including strategy design and implementation, process review and improvement, transferring servicing assets, optimizing your customer experience initiatives to get more business, technology procurement and implementation, M&A strategic options, and much more. STRATMOR’s advisory team is available now to discuss these services for 2024. Please contact us directly to learn more.

On This Episode of “Between Two Jennifers” — Parrying the Pitfalls of Process Improvement

This month, I sat down with fellow STRATMOR Principal Jennifer Fortier to wade into the murky waters of process improvement. Successful execution of process changes is something every mortgage lender strives for, but doesn’t always achieve in a sustainable, effective way. In this exchange, Jennifer and I explore the benefits of regular process reviews and why the path to process improvement requires a combination of things to be effective. We also look at the pitfalls that can derail sustainment of new processes and how to overcome them.

More Insights

More Insights

We often prioritize marketing spend over process improvements. Maybe it’s time for lenders to rethink their budget priorities and give due attention and financial resources to the greatest driver of new sales generation: the Customer Experience. Our question this month: Where can lenders best “spend money to make money” in this market?

February 2024 STRATMOR Studies


STRATMOR Group offers data products and mortgage advisory services to power your performance, including industry-specific studies. Get the data driven advantage!

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I’ve observed for a while the massive disconnect often seen between mortgage lenders and their technology partners, despite good intent from each party and the desire for a mutually beneficial outcome. And much like real-life relationships, some are staying in the partnership purely due to a contractual commitment made but they aren’t exactly happy. Some feel they made a good choice with the partnership, but there are recurring frustrations that seem difficult, if not impossible, to solve: poor communication, issue resolution or not living up to expectations. And sometimes you see a truly positive partnership, not entirely free of challenges, but where there is a healthy manner of resolving difficulties as they arise.

We will unpack the key areas of disconnect that we’ve heard, outline what STRATMOR suggests to both lenders and their technology partners and share examples of how a few tech providers have already taken STRATMOR’s guidance to heart.

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I find myself thinking about Maslow’s hierarchy these days when pondering the state of the mortgage industry. What would Maslow say if he were to create a similar hierarchy to define the different levels of needs for mortgage lenders today?

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