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LenderHub

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

 

The Value of a Dealer Relationship Officer

Not everyone is familiar with how valuable the role of dealer relationship officer can be for a financial institution. I sat down with Jennifer Cook and Tiffany Nelson, the dealer relationship officers at Security Service Federal Credit Union, to take a deep dive into what this job is all about.

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3 Ways Management Can Help Boost Sales at Your Financial Institution

While interest margins have improved this year, up 7 basis points from 3Q 2019, according to creditunions.com1, financial institutions are still in a position that requires them to create revenue streams beyond lending. However, one of the challenges—particularly for service-focused organizations like credit unions—is converting to a product-driven sales culture.

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How to Find Those "Red Flags" of Identity Theft

It seems that rarely a day goes by that we don’t catch wind of a case of identity theft. According to an estimate by the FTC1, around nine million Americans’ identities are stolen each year. And with so much jargon like skimming, fraud, and phishing, it’s not surprising that many consumers don’t know what to look out for. With fraudsters developing new schemes every day, the fraudulent use of identities to establish credit and banking accounts promises to challenge consumers and financial institutions alike for years to come.

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Is Your Institution Prepared for Declining Mortgage Interest Rates?

The housing market is quite fickle. It’s impacted by economic factors that are often difficult to understand, and typically leaves consumers and lenders alike on the hunt for information in an attempt to make sense of how it will impact their financial decisions.

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Auto Finance Market Stats and Trends: Q2 2019

The auto loan industry is massive and chances are that if you are a financial institution, you are also in the auto loan lending game. As a lender, knowing ways to maximize your automotive financing portfolio and extending loans to qualified borrowers is of the utmost importance. Having a solid pulse on the auto finance market can help increase your financial institution’s auto loan portfolio.

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5 Standard Reports Your Outsourced Collections Partner Should Provide

If your financial institution works with a third-party vendor for your collections efforts, you know how important it is to ensure your partners perform at an optimal level. To properly evaluate whether your outsourced partner is performing at a high level, it’s wise to understand their company procedures and establish agreed upon benchmarks to measure their performance.

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3 Ways to Help a Financially Burdened Borrower

Financial institutions and borrowers alike have breathed a collective sigh of relief over the last decade as the U.S. economy has improved from the dark days of the Great Recession. Delinquencies are not what they once were thanks to an improved economy, job growth, and increased credit availability. However, the United States, and in turn, lenders, are not completely immune from delinquency issues.

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Is Your Institution Prepared for Rising Interest Rates?

Historically, there are a few key indicators that can signal a potential rise in interest rates. Perception of a robust economy, increased consumer spending, and high employment levels could all combine to lead to a hike in interest rates. Higher interest rates reduce disposable income (and therefore consumer spending), increase the cost of borrowing, hamper the speed of economic growth, and limit the rate of inflation.

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Evaluate Your In-House Collection Operation with These 7 Questions

Financial institution auto loan portfolios continue to grow annually. In fact, Experian1 reported that auto loan balances climbed to $1.18 trillion in the first quarter of 2019, a 6.5% increase from 2018. And, as many lenders know, when your portfolio grows, as does the risk of delinquency.

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One Size Does NOT Fit All in Property Valuations

Lenders face a variety of challenges. When it comes to mortgage origination, some of those challenges include increased turn times and valuation costs. While it’s critical for lenders to demonstrate to regulators that they are valuing the equity in an appropriate and compliant manner, it’s also essential to provide cost-effective mortgages that close in a timely manner in order to meet the expectations of borrowers.

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