Today starts the second week of the QC BOWL. While the registrations are adding up I find that many of the people I talk to are afraid of participating. There are a variety of reasons which I wanted to share with you.
- My boss will find out I participated and want to see the results.
- Your results are CONFIDENTIAL. No one will see them but you. If your boss wants to see how your company did it will only show the collective results compared to the total reviews.
- The results compared to other companies might show some problems.
- There will not be a company to company comparison, only to the total.
- I work for an outsourcing company and they said I couldn’t because it might show we are not as good as others.
- I certainly understand this because we have never had any type of comparable results. Of course all outsourcing companies think they are the best and this would be a great chance to prove it! Failing to take advantage of this opportunity when others have will only make your company look afraid of the truth.
- My boss won’t let me take the time OR my staff is too busy.
- That certainly can be an issue and I encourage all QC Managers to allow time for participation. However, the reviews can be done at home or anyplace you have a devise and a connection. Remember you have three (3) more weeks to complete the contest! Managers, give your folks an opportunity to participate. You may just become the BEST QC program in the country.
- I’m afraid of the result.
- Not an uncommon response. But this is the ONLY way you will know how good you really are. Knowing this can do a lot for you when it comes time for your review and performance evaluation. If you win you get bragging rights as well.
- I don’t see how it will help my company, my department or me.
- While winning is important the bigger issue is gaining the respect and recognition of your organization. QC is still considered a “necessary evil” or a “cost of doing business” to many lenders. Many times you may think that management ignores what you do; and believe me that is true so often. The other side is that agencies, regulators and investors are now looking at the QC group as the “bad guys” when bad loans get made. This has to change. QC must become respected and valued but it won’t happen until we can show them our value. The QC Bowl is our first step in making that happen.
Many of your colleagues have already signed up; just go to QCBOWL@mortgagetrueview.com. Don’t be left behind. If you have any questions, please give me a call at 561-459-7070. I am also on Linked-In and have regular posts there discussing the QC issues in our industry. I have also attached the latest post here for your review.
About The Author
rjbWalzak Consulting, Inc. was founded and is led by Rebecca Walzak, a leader in operational risk management programs in all areas of the consumer lending industry. In addition to consulting experience in mortgage banking, student lending and other types of consumer lending, she has hands on practical experience in these organizations as well as having held numerous positions from top to bottom of the consumer lending industry over the past 25 years.