Business Turnaround: Wells Fargo Home Mortgage

The Problem: Loan modifications at Wells Fargo Home Mortgage was taking 120+ to complete putting borrowers at risk. The Federal Government demanded modification occur faster.

The Strategic Pivot: The Company engaged us to improve process in 4 states.

Best Practice #1: Convert C-Suite Financial Goals into Actionable Shop Floor Metrics.
Align with the CFO, develop and implement KPI’s on the floor to support the company’s financial needs.

Best Practice #2: No Plan Survives First Contact – Prioritize Real-Time Execution Over Theoretical Strategy.
We worked with loan processors on the production floor to first improve the current process (Muri). We then developed and implemented changes through weekly kaizen events.

Best Practice #3: Lead Time is the Ultimate Metric – The Hidden Driver of Profitability
With the loan processing team, we mapped the entire loan process from application to funding to see the lead time opportunities.

Best Practice #4: Standardize to Sustain
Standardized Work was developed to lock in changes. Leaders were trained to develop and manage Standardized Work.

The Outcome:

Processing time reduced from 120+ days to under 15
Rework reduced by 86%.