last minute change
Case 3: Last Minute Change at Old Delhi Finance Trust
“It was a quarter to four on Friday afternoon,” said Robin Lall. “I was just closing out my accounts and trying to clear up a few more issues before the end of the business day. Then along came my division vice president. Since my desk is in the centre of the mortgage banking division, I could tell long before he got to me that I was the one he was looking for. And, frankly, the folder he dropped at my desk was the last thing in the world I expected to see.”
Robin Lall is a 26 year old assistant broker in the mortgage banking division of Old Delhi Finance Trust, a relatively small interstate bank located in Northern India. Robin’s branch has regional responsibility for home mortgages in Northern Virginia and the Washington DC, area. Although he had joined Old Delhi Finance Trust following graduation four years earlier, he was still among the more junior people in his branch.
“The boss came directly to my desk and asked if I had a minute. Of course I have a minute,” said Lall, “Who hasn’t got a minute for the Branch V.P.?” Mr. Bilwa Singh was senior Vice President, Mortgage Banking for Old Delhi Finance Trust and executive Vice President for the New Delhi branch office. He was not only Lall’s supervisor but his mentor and partner in several important projects.
“Mr. Singh and I had been working on a new, Government funded mortgage program that would permit low-to-middle income, first-time home buyers to obtain financing at very low rates. It was an important project that would require both thorough explanation to the community and careful screening of each of the applicants.” Lall went on to explain that the program has been more than six months in development and would require the cooperation of state and local officials if it were to work. It was an impressive attempt, Lall thought, on the bank’s part to provide mortgage financing to people who would otherwise never qualify for a home loan.
“I
“It was a quarter to four on Friday afternoon,” said Robin Lall. “I was just closing out my accounts and trying to clear up a few more issues before the end of the business day. Then along came my division vice president. Since my desk is in the centre of the mortgage banking division, I could tell long before he got to me that I was the one he was looking for. And, frankly, the folder he dropped at my desk was the last thing in the world I expected to see.”
Robin Lall is a 26 year old assistant broker in the mortgage banking division of Old Delhi Finance Trust, a relatively small interstate bank located in Northern India. Robin’s branch has regional responsibility for home mortgages in Northern Virginia and the Washington DC, area. Although he had joined Old Delhi Finance Trust following graduation four years earlier, he was still among the more junior people in his branch.
“The boss came directly to my desk and asked if I had a minute. Of course I have a minute,” said Lall, “Who hasn’t got a minute for the Branch V.P.?” Mr. Bilwa Singh was senior Vice President, Mortgage Banking for Old Delhi Finance Trust and executive Vice President for the New Delhi branch office. He was not only Lall’s supervisor but his mentor and partner in several important projects.
“Mr. Singh and I had been working on a new, Government funded mortgage program that would permit low-to-middle income, first-time home buyers to obtain financing at very low rates. It was an important project that would require both thorough explanation to the community and careful screening of each of the applicants.” Lall went on to explain that the program has been more than six months in development and would require the cooperation of state and local officials if it were to work. It was an impressive attempt, Lall thought, on the bank’s part to provide mortgage financing to people who would otherwise never qualify for a home loan.
“I