Pub. 9 2019-2020 Issue 4

10 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S www.coloradobankers.org FEATURE ARTICLE E ven in tod ay’s dynamic environment of increased regulations and lending oversight, many community lenders remain committed to some old-school processes within their loan op erations. In some cases, inefficiencies and frustrations can be common issues that are connected to these burdensome administrative processes. In a time when many community lenders are adopting a “get lean” approach to their operations, for some reason, these old-school philosophies remain entrenched. The phrase, “but that’s the way we’ve always done it” is uttered often. Why is it that simple change can be so difficult to embrace? Why, from the executives to the loan operations staff, is it often difficult for a community lender to let go of these old-school processes? One area that is worth focusing on is the process of collateral insurance tracking. Lenders have, for decades, been programmed that tracking the loan collateral insurance of their borrowers is the onlymethod to protect them froman uninsured loss. This process of monitoring the insurance documentation That’s theWayWe’ve Always Done It ... Change in Mindset – Why So Difficult