|ISSUE / BACKGROUND
Currently, ***** Bank houses approximately 135,000 active loan files in 13 different locations across the corporation. Facilities within the three loan sales support areas are at or approaching their maximum storage capacity. With the acquisition we will have to absorb another 56,000 loan files which are housed at the 23 community banks. Consequently, we are working with the Facilities management area to design a Loan Records area to be located in the South Building basement. This facility will house approximately 171,000 loan files (20,000 mortgage files to be consolidated). It is assumed that all of these locations employ various methodologies when organizing their files. With this in mind, our consolidation efforts should revolve around the following objectives.
Several solutions were researched, however, faced with the reality that an "imaging solution" is to far off on the horizon, we have identified a vendor / technology that would allow us to automate and still benefit from imaging solutions in the future.
PURPOSE / RATIONALE
Among the advantages received with this transaction are:
Reducing Risk - Immediate identification of missing loan documents as loan
files are scanned before they are consolidated from various locations.
I have split these costs into three categories consisting of Labor/Supplies, Software
and Hardware (The hardware cost does not include a server to store the database, as it is
not determined if we could use the existing super server for this application). In
addition, by contracting for labor costs to complete the project, we would receive a
project manager who would oversee the implementation including training of staff.
VanLoozen currently has an opening in their schedule for the October / November time frame. This could work well with our facilities schedule (November) as well as the record retention project currently being coordinated, I did attend the kickoff meeting and requested my area be prioritized on their project. After your review of this information and providing you concur, I would like to speak to you regarding getting an analyst assigned, as well as allowing me to proceed with contract negotiations.