Reading a fascinating book about the mortgage origination industry in which the CEO of one company believed, for years, that “easy to approve” loans (high FICO, documented income, etc) went through process faster than more marginal loans. A consultant actually measured.
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Worked in the software industry supporting these. I lay my bet on “never thought to measure as those loans don’t look different in the workflow”
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What's the book?
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I'd go with the former. Traditional measures used for management wouldn't tell you that, so it'd be strongly believes "gut feel"
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"organization knew it was slow but the slowness was split out over N department's processes and no-one could find a big quick win to improve it, so the status quo continued"
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Maybe Parkinson’s Law? We did a 60-day close on an easily approved loan and the bank to over 50 days to finish their end.
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I'd wager it just wasn't an important metric to track so nobody bothered to look it up. CEO cares about the financials. "Time to close" only matters if it started affecting the bottom line.
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What’s the book called?
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