54
Feature By: Stephen Staid
THE SILVER LINING
IN A GREENFIELD
PLAYBOOK
Because it requires a detailed strategy and high level of expertise to create a lean
organization, the Greenfield Playbook can guide a mortgage servicer to formulating
a cost-effective operation through digital technology.
All industries and businesses follow different playbooks. In football,
for example, a playbook contains a formula for winning games. For each
play, players practice the playbook by lining up in their correct positions
and run plays, with their role for each play sometimes dependent upon
the defense's set up. rough practice and repetition, the team learns to
master the entire playbook.
In the end, however, a football playbook
requires execution with accuracy and efficiency
only on gameday.
In business, every day is gameday. And
while human errors in football—missed routes,
interceptions, fumbles, penalties—can keep a
team from winning, human errors in business
can become much more costly.
For this reason, banks and nonbank
lenders developing a mortgage servicing
business today require highly sophisticated
playbooks to successfully navigate the complex
risk environment associated with mortgage
servicing and achieve substantial rewards.
"e Greenfield Playbook" has proven to
be one of the most effective strategies—plus
it includes a silver lining that no servicing
business should ignore.
THE PLAYBOOK'S IMPORTANCE
Business playbooks guide organizations.
ey bring together parts and pieces of a
company to create workflows, processes,
standard operating procedures, and a culture for
success. Before building a playbook, however,
companies need to analyze the risk/reward
scenario for starting a mortgage servicing
business and maintaining it for long-term
success.
It is imperative for successful servicing
businesses to be adaptable, quick, and skilled at
