complex system design: creating sustainable change in the mortgage-finance system
John R. Latham
abstract
This article is one of four commentaries on Paul Zipkin’s article “Quality Snags in the Mortgage-Finance Supply Chain” all found in the 2009 Quality Management Journal 16(3). This commentary offers several thoughts on some of the systems issues associated with implementing and sustaining the changes that Zipkin recommends. The commentary is divided into three main sections: (a) system design issues; (b) regulatory and market failures; and (c) leadership and learning.
key words
Community Reinvestment Act (CRA), Fannie Mae, Freddie Mac, leadership, mortgage-backed securities (MBS) market, multiple stakeholders, organizational learning, subprime mortgage crisis, systems theory, systems thinking
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cite this paper
Latham, J. R. (2009). Complex System Design: Creating Sustainable Change in the Mortgage-Finance System. [Commentary]. Quality Management Journal, 16(3), 19-25.
related articles and commentaries
- Zipkin, P. (2009). Quality Snags in the Mortgage-Finance Supply Chain. Quality Management Journal, 16(3), 12.
- Watson, G. H. (2009). Time to Sharpen These Blunt Instruments and Give Them to Some Living Spirits! [Commentary]. Quality Management Journal, 16(3), 2.
- Kolesar, P. (2009). A Quality Perspective on the Mortgage Crisis: More Questions Than Answers. [Commentary]. Quality Management Journal, 16(3), 5.
- Stephens, K. (2009). Quality Principles, Philosophies, and Methodologies Applicable to the Mortgage-Finance Supply Chain. [Commentary]. Quality Management Journal, 16(3), 2.
- Zipkin, P. (2009). Zipkin’s Response to Commentaries. [Response]. Quality Management Journal, 16(3), 1.