NMP - July 2018 - 15

Most banking and mortgage
professionals are either working
without a vendor management

within vendor management, with
40 percent reporting they had
three or more full-time employees
dedicated to their vendor
management program and 39
percent stating fewer than three
people were assigned to the task.
And 30 percent of respondents
said their company monitors and
assesses vendor performance
annually.
"The importance of technology
to drive efficiency, increase due
diligence and further improve an
organization's vendor oversight
processes is becoming a
realization for many," said Jim

Vaca, Senior Vice President at
Vendorly. "However, as the survey
results show, even though many
have identified the need for a
vendor management solution, a
surprising number have yet to
adopt or implement the
technology. Our solutions allow
for financial institutions to move
away from historic and inefficient
vendor management processes
and transition toward a
multifaceted vendor oversight
program to help them achieve
more efficient management of the
continued on page 16

15

n National Mortgage Professional Magazine n JULY 2018

Survey: Low Priority Given
to Vendor Management
Programs

program in their companies or
have an inadequate program,
according to a new survey
conducted by Vendorly.
In the survey, 59 percent of
respondents said their company
did not have a fully
comprehensive vendor
management program in place,
while 33 percent of those with a
program complained the
existing system needed
improvement. Furthermore, 36
percent of respondents said that
the employee capacity to handle
workload or vendor
management was the greatest
challenge their companies faced

NationalMortgageProfessional.com

expand and reach more families.
Arch's support has helped us
build a larger, stronger, and more
sustainable ability to give," said
Debra W. Still, MBA Opens Doors
Chair and President, and Chief
Executive Officer of Pulte
Mortgage.
"Arch MI understands the
importance every family places
on the security and comfort of
their home. To ask a family with a
critically ill child to choose
between staying with their child
during treatment or working to
keep their home is
unimaginable," said Andrew
Rippert, Chief Executive Officer
of Arch's Global Mortgage
Group. "We have supported the
Opens Doors Foundation since
2015 and as a board member of
Opens Doors, I can't think of a
more worthy cause. We are
honored to do our part to help
families in our communities."
To date, more than 2,200
families across America have
received mortgage and/or rental
payment assistance grants from
Opens Doors. In California alone,
more than 220 families have
received a grant through the
Foundation's Home Grant
Program. Arch's five
year/$500,000 commitment has
helped to support the
Foundation's expansion into two
California hospitals: Lucile
Packard Children's Hospital in
Palo Alto and Children's Hospital
of Los Angeles.
"Arch's significant contribution
has allowed Opens Doors to
grow strategically and to position
itself as a critical part of a
family's support system," said
Deborah Dubois, President of the
MBA Opens Doors Foundation.
"We are extremely grateful to
have Andrew on our board, both
for his personal and his
professional commitment to our
mission."
Arch MI has earned the
designation of Opens Doors
Foundation Guardian, and was
awarded the MBA Opens Doors
Foundation 2017 Community
Champion Award.


http://www.classappraisal.com http://www.NationalMortgageProfessional.com

Table of Contents for the Digital Edition of NMP - July 2018

Contents
NMP - July 2018 - Cover1
NMP - July 2018 - Cover2
NMP - July 2018 - 1
NMP - July 2018 - Contents
NMP - July 2018 - 3
NMP - July 2018 - 4
NMP - July 2018 - 5
NMP - July 2018 - 6
NMP - July 2018 - 7
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NMP - July 2018 - Cover3
NMP - July 2018 - Cover4
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