Improving the Efficiency of Mortgage Loan Modification

A majority of delinquent mortgage loans during the foreclosure crises were unmodified. Lending institutions lost on average 50% of a home\u27s value in future profit from each foreclosure. The purpose of this single case study was to explore what strategies mortgage loan officers might use to improve the selection of delinquent borrowers for mortgage loan modification. The conceptual framework for this study was contract theory. The target population included mortgage loan officers from one community bank who successfully implemented strategies to modify loans for delinquent borrowers during the foreclosure crisis. Semistructured interviews were the data collection method. Emergent themes were identified in the data using a form of pattern matching called explanation building. The following key themes emerged: asymmetric information is essential to a mortgage loan officer\u27s ability to select delinquent borrowers for mortgage loan modification and mortgage loan officers could create value for their organizations through mutually beneficial contracts. The results of this study can be used by leaders in financial institutions to improve the processes and procedures pertaining to mortgage loan modification. Improving mortgage loan modification practices can reduce foreclosure and the impact foreclosures have on the deterioration of communities, property values, and the degraded ability of governments to provide services due to the loss of revenue

Perceived organisational support and well-being: the mediating effect of psychological capital

The field of Positive Psychology focuses on the strengths and positive capacities of human beings and investigates how mental well-being can be actively enhanced. Analysis of those factors influencing employee well-being constitutes a valuable approach for research purposes. Based on the Job Demands-Resources Theory and the Conservation of Resources Theory, it was assumed that Perceived Organisational Support (POS) and the higher-order construct of Psychological Capital (PsyCap), consisting of the facets of self-efficacy, hope, optimism, and resilience, are all resources that can contribute to a sense of greater well-being for employees. It was proposed that POS fuels the capacity of PsyCap, which can then result in an accumulation of resources leading to enhanced well-being. It was therefore hypothesised that the positive capacity of PsyCap would mediate the relationship between POS and well-being. A non-experimental, cross-sectional design using convenience and snowball sampling via personal contacts and social media was utilised. A research sample of 159 South African participants who completed an online survey was thus recruited. The respective constructs were assessed by means of the Survey of Perceived Organisational Support (SPOS), the Psychological Capital Questionnaire (PCQ-24), and the Warwick-Edinburgh Mental Well-being Scale (WEMWBS). All measures revealed excellent reliability. The SPOS and the WEMWBS were found to be valid after minor construct modifications had been made. The four-factor structure of the PCQ-24 could not be validated due to high inter-correlations between the subscales. Each subscale, however, was shown to be valid. The results of the statistical analysis indicate that POS, PsyCap and well-being are positively correlated with each other. Hierarchical regression analyses, structural equation modelling, and bootstrapping revealed that PsyCap fully mediates the relationship between POS and well-being. This implies that organisations can contribute to a greater sense of well-being in their employees by systematically enhancing their PsyCap through the offer of support structures

An exploration of creative managers' perspectives on digital creativity: the impact of viral campaigns on creative processes, appeals and creative teams in UK advertising agencies

This research aims to develop conceptual insight into the practice and impact of a specific digital phenomenon – “viral marketing” – on marketing communications agencies. Specifically, it explores the UK, one of the most important hubs in global advertising looking at agenciesr campaign design planning, the roles of creative teams and the management processes through three research objectives: - To explicate, classify and explore the changes in advertising campaign planning processes and roles which digital phenomena such as virals have introduced - To capture and codify the working models which creative managers employ and the messaging strategies considered and implemented in viral campaigns - To develop theoretical models for understanding virals, agency campaign management, creative roles and develop extant frameworks Prior Work: Research into virals has grown rapidly over the last ten years but it is dominated by computing studies of online diffusion. The creative perspective has received little attention. Those studies which do address this viewpoint are principally focussed on the final advert. The voice of the producers of such campaigns – creative managers – is largely absent from the literature with a single study of campaign measurement. The roles of core teams/functions within the agencies, the criteria for viral creative concept evaluation, the campaign processes and working models are experiencing unprecedented change. Viral campaigns offer a bridge between the “old” and “new” worlds; it possesses the characteristics of TV and the Web. It is important because such viral campaigns have challenged the established models of advertising management and planning. Methods: The study undertakes the first comprehensive evaluation of the exisiting research into viral marketing, locating gaps in the creative design and management. Qualitative methodology through semi-structured in-depth interviews with creative managers in a range of UK advertising agencies is used to represent their views and responses to viral phenomena as they conceived, designed and reflected on campaigns. Contribution to Knowledge: This is the first study of the pre-launch/pre-production phase of campaign development. It has clarified a plethora of terms, in so doing developing the SPEED framework to understand the biological metaphor underpinning the phenomena, and finally producing a more accurate and comprehensive definition of the phenomenon. The paradigm funnel evaluation of prior research has tested and extended formal tools to arrive at a state of the art. The current research primarily consists of studies utilising secondary datasets, mainly quantitative – this study explores questions not just of what but of why, producing deeper insight than available before. Theoretical contributions: In the final model of viral creative management and design is an overarching conceptual contribution which for the first time represents creative roles, agency management and creative considerations at both pre and post-launch campaign phases. The thesis also develops theoretical constructs in specific areas – definition from practitioners, construct of campaign zones in viral design, a model of critical factors which facilitate virals, comparative theory of conventional and viral campaigns, characteristics of viral agencies, model of digital brand/agency relationships, a role construct for digital creatives among the main theoretical developments. These led into the final theoretical model