HOA Demand
PROJECT
HOA Demand
Domain
Title & Settlement Services
CLIENT
Americas
Process Improvement
Reduction in turn-around-time to obtain HOA demand, resulting in reduction of closing timeline
Action Plan
- Verity improved the turn time to receive HOA demand to within five business days.
- Calibration done by Verity with the HOA’s & Management Companies to set priorities to order HOA demand either through web portal or HOA based on the estimated closing date.
- Verity performed process reengineering. Rush orders to be placed only on urgent cases to maintain the possible minimum closing cost.
- Verity has developed an in-depth database for small HOA which has a faster turn time to avoid additional cost.
- Verity continues to add more HOA contact information to create a vast repository.
Outcome / Achievement
- Continuous monitoring was done to measure the effectiveness of implemented process.
- Weekly and monthly data were compared with the current performance statistics post implementation of the process.
- The reduction in turn time was reduced by six business days by the end of the month.