Helping HUD Catch Up from a Technical Review Backlog
The Challenge: Marketplace factors such as unusually low interest rates had resulted in an unprecedented number of mortgage refinance applications. At the same time, HUD was consolidating their 57 field offices into four Home Ownership Centers (HOCs), which of course required that time and efforts be devoted to their restructuring. As a result, HUD hired Horizon to help them overcome the backlog of applications.
The Horizon Solution: Horizon quickly hired underwriters with experience in mortgage underwriting and valuation, Quality Assurance professionals, and additional data entry technicians, opening an Atlanta office to aid in recruitment. Working seven days a week – with overtime at company expense – Horizon trained employees on the specifics of performing Technical Reviews. We expanded office hours and added shifts to create a 24 hour/day, round-the-clock operation. We doubled our existing office space and added additional computer and printing equipment. Horizon also took action to improve procedures:
- Redesigning the proprietary Technical Review system to expedite data entry, standardize handbook references, and improve Quality Control
- Creating a system that would send data electronically to the four HOCs according to their different system formats
As Horizon’s staff grew to accommodate HUD’s needs, we put procedures in place to ensure our continued smooth and efficient operations. We started our own internal Quality Control department, developed quarterly training sessions, built additional data integrity checks into our Technical Review system and designed reports that would identify weaknesses in procedures and production.
The Results: Horizon met HUD’s challenges with new and innovative procedures that resulted in eliminating the backlog of Technical Reviews in a timely manner, and initiating a smooth system for information exchange with the Home Ownership Centers (HOCs).