This article is part of HW PartnerDirect™. What is this?

Two weeks remain as we start Week 45 of project research and budget approval phase of the Lender Implementation Timeline.  How many of you will be completed with this phase next week?  For those that are on track to completing this phase, you should have the big picture of what your business will look like on August 1, 2015.  WHAT you need to do should be answered by now, and the plan on HOW you need to do it should be getting close to wrapping up.

If you’re behind the ball, there’s still time to catch up, but that window is quickly closing.

In planning for big changes to your organization, the key area of a digital transformation know as Operational Process is one that is absolutely pertinent in the wake of regulatory disruption such as TILA-RESPA.  Last week, we pointed out a key question that you should be asking as you go through how your business performs:  Why is a process performed that way?

This important question is the starting point to realizing the efficiencies in your organization.  And as we discussed last week, you’ll need to stay focused as it can quickly take you off track.  Do that with the following questions:

1.  What tasks or steps are absolutely necessary to complete that task?

2.  How much time does is take to complete that task or process?

3.  Across the entire business, is this process completed the same way?

4.  What tools are out there today that can help us complete tasks and processes more efficiently?

Today it’s critical that you keep the mentality of challenging the status quo. Learn as much as you can about what you do today in order to figure out how to do it better, and for less of a cost to your business. With the market the way it’s been all year, saving a dollar should be just as important as making one. To keep that perspective, and understand where your business is at for taking on any change, ask yourself:

  • How much revenue does my service produce?
  • How much does it cost to provide my service?
  • What is the profit margin to provide my service?
  • What is my expected profit margin of the service I provide?

In closing, it’s hard to believe that September is almost over. This year has sped by, and it seems like we just started this blog yesterday. We’re looking forward to seeing everyone at the 2014 MBA Annual Conference & Expo in October. We’ll be at booth 451 showing people like you first-hand how to use technology as an effective tool for your organization, and how to get started with digitally transforming mortgages in America.

For more information in the meantime, visit the, to view a growing knowledge base of information and forums where you can ask questions and interact with others in this industry.

All information and views expressed or implied are provided without warranty and are only the opinion of Pavaso, Inc. Each participant should seek legal representation for legal interpretation of the ruling and the CFPB directly for final instruction and interpretation.The final rule can be found here.