Client On-boarding Process
LAMCO’s REO Liquidation Management process contains a proven client on-boarding methodology, a critical element for future success. LAMCO develops a clear understanding of each client’s requirements and expectations and adapts its outsourced REO services accordingly. Our client on-boarding process consists of the following steps:
Each new client may have unique requirements that can create the need for changes to our existing processes. LAMCO conducts a careful analysis of the scope of work to provide insight for team development, process adjustments and staff training.
Defining expectations and requirements is the next step in the successful integration of a new client. Definition allows LAMCO to identify areas where the company may need to hire additional staff, make changes to processes or create enhancements to technology applications. During the definition phase, an integration team is created and tasked with the responsibility of successfully on-boarding new clients.
Prepare People and Process
LAMCO’s people and processes are what set the organization apart from its competitors. The company adapts to the needs of its clients and adjusts our default and REO asset management processes to meet new client requirements. When developing a staffing plan, it is critical that the appropriate training program address unique client needs.
Establish Performance Standards
Performance standards provide a mechanism to measure LAMCO’s work and provide a means by which our clients can assess our performance. An essential part of each client program, our metrics include overall organization and individual employee performance and customer service standards.
Implementation is an exciting time when the integration team’s hard work has prepared LAMCO and the client for the execution of the outsourcing relationship. LAMCO is prepared to receive properties and work assignments using our Web workflow management application. The assigned staff is in place and properly trained and all metrics and reporting is finalized.
Review and Adjustment
LAMCO continually reviews its performance to ensure efficiency and adherence to our client’s requirements. We remain engaged with key client personnel to review our processes and performance and to incorporate appropriate improvements. The review and adjustment phase of client integration continues throughout the term of the relationship.