LAMCO Implements Vendor Management Process

LAMCO Implements Vendor Management Process- REO asset management company vets service providers with measurable standards, continual performance checks -Lenders Asset Management Corporation (LAMCO), a full-service, nationwide REO management company, announced the formal development of its LAMCO Vendor Management Process, which evaluates LAMCO-endorsed vendors using several measurable qualifications, facilitating a foundation of long-term, mutually beneficial relationships with its service providers.LAMCO qualifies new vendors and manages ongoing service provider relationships using the elements of TQRDCEB, a framework developed by Hewlett Packard Company. Vendors are evaluated on technology, quality, responsiveness, delivery, cost, environment and business impact using a score card system based on a weighted strength ranking. Service providers are selected as a LAMCO vendor based on their performance within the TQRDCEB system and are routinely evaluated on the same scale to measure performance, identify areas of improvement and promote an environment where the status quo is challenged.Each area of the TQRDCEB management process includes expectations and best practices that must be demonstrated by vendors, such as meeting or exceeding service level agreements (SLAs), demonstrating quality and reliability with all work orders, and maintaining familiarity with LAMCO technology and system requirements. By scoring well within the TQRDCEB process and meeting the expectations set forth by LAMCO, vendors increase the opportunity for repeat business, resulting in increased sales and profits.“By developing and maintaining strong relationships with its vendors during the course of 20 years, LAMCO has been able to work on process improvements that continually add value, reduce costs, mitigate risk and enable LAMCO to adapt to market conditions and client needs,” said Brandon J. Hawkes, CEO of LAMCO. “Service providers are selected based on sound qualifications and must maintain a high level of service monitored through repeat evaluations in order to continue as a LAMCO vendor.”
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Comments

  • I will contact LAMCO and see if they are going to make it available to the agents. Great Question.
  • Will be this score made available to agents so they know where to improve?
  • Gotta love them acronyms!
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