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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

5 Common Collections Challenges (and How You Can Overcome Them)

Collections plays a critical a role in your institution’s financial health. Limited resources, personnel, and time are common denominators for many collections departments. I've worked with financial institutions to streamline their collections operations for years, and we typically see operations afflicted with the same challenges and obstacles. As the economy and consumer sentiment continue to improve, financial institutions can expect to see lending increase.

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10 Topics to Educate Your Customers on Debt Management

These days, we consistently hear about how strong the U.S. economy is, with home values quickly increasing and low unemployment creating lucrative opportunities for workers. Despite that, many Americans are struggling financially and are unprepared not only to reach far-off goals like retirement but even to cover standard life expenses and debt management.

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Warn Your Customers About Romance Scams in Payments

This is an important notification to inform clients of a scam affecting the payments industry.

What is a romance scam?

A romance scam is perpetrated via the internet and predominantly targets older widowed or divorced women by exploiting their emotional vulnerabilities. This crime can be committed from anywhere in the world, making it difficult to catch the perpetrator.

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A Deeper Look Into the Appraiser Shortage

The shortage of appraisers has been an ongoing concern within the real estate industry. According to a National Association of Realtors (NAR) survey conducted last year, there are three major factors resulting in the appraiser shortage.

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Borrow Best Sales Practices from Other Financial Institutions

As you seek to increase your institution's share of business in the crowded financial institutions space, it can be valuable to check out what your colleagues and competitors are doing. To assist you with sales ideas, here are some best practices we've recently learned from our financial institution partners.

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The Quest for Non-Interest Income

In the neverending quest for non-interest income, financial institutions can find themselves in a bind: income is necessary to run any business, of course, but lenders often feel that seeking out income and fees runs contrary to their customer service missions. Also, lenders tend to fear that adding or increasing fees and other charges may drive customers to competitors.

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5 Ways to Advance Your Investment Program

To compete for new customers and retain your existing customers, you must offer products and services that make their lives more convenient and aren't available at every financial institution. One great service to offer is a retail investment program, which gives customers the opportunity to consult with a professional financial advisor and have investments right at your financial institution, where they already go for loans and banking services.

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Columbine FCU Finds Indirect Lending Success with Hybrid CPI

When a Collateral Protection Insurance (CPI) program is implemented correctly, the program protects the lender and borrower in the event a customer fails to update their auto insurance status. As the Consumer Financial Protection Bureau (CFPB) continues to crack down on unsavory insurance tracking tactics by banks and underwriters, your financial institution should compare program options and determine if traditional CPI or Hybrid CPI is the better choice for your risk management strategy.

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Pope Francis Weighs in on the Dark Art of Money Magic

Every now and then in our business, a headline comes across the newswires that makes you do a double and triple take.

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How Longer Auto Loan Terms Impact Your Financial Institution

Long-term auto loans are known to be riskier, so why are they increasing in popularity when it comes to auto lending? In the auto industry, it’s not uncommon for consumers to have negative equity in their vehicle. Consumers want the latest and greatest when it comes to savvy technology and features so they upgrade their vehicles, and with that comes a cost. In order to keep costs down, many consumers are opting for longer terms in order to keep their payments affordable. But, does this set them up for financial failure?

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