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LenderHub

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

 

Recent Posts

Watch for Accelerating Delinquencies as Sales Shift to Trucks

Though U.S. auto sales have cooled of late, one segment is thriving and even growing against the odds. Almost 70% of all auto sales these days consist of light-duty trucks and sport-utility vehicles (SUVs), according to Bloomberg. Meanwhile, mid- and full-size trucks are also enjoying double-digit sales growth, reports trucks.com.

While the automotive industry and numerous dependent industries, such as auto lending, are usually pleased with increased vehicle sales in any segment, this time there's a catch: trucks and SUVs have become the priciest class of vehicles, and borrowers are beginning to have a hard time paying back these larger loans.

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Big Government and Debt Collection: What You Need to Know

Change is impactful. For better or worse, however, when it comes to change in a business environment, it can mean a major shift in day-to-day operations and could even impact your bottom line. When you're busy running your financial institution and ensuring that your customers' needs are being met, it can be challenging to keep a pulse on all of the regulatory changes the various government agencies are handing down. Fortunately, our partners over at MasterQueue, are staying on top of regulatory changes that are coming down the pike, particularly, when it applies to debt collection and asset recovery.  

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What Repossession Really Costs Your Financial Institution

Auto lending has many perks, including helping valued customers by helping them get into a vehicle they want or need, building and deepening relationships with your borrowers, and ultimately, creating a vital stream of interest income. However, lending also comes with unique challenges such as delinquency, insurance tracking and placement, and worst-case scenario, repossession.

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Improving Customer Service Through Technology

Many financial institutions—particularly credit unions and community banks—put member service and customer relationships above all else, including technological advances. Think about it: our credit union brethren are typically last to adopt the latest and greatest in banking technology—ATMs, online banking, mobile deposits, etc. The reasons why are simple. When your first priority is personalized customer service, you want your customers to experience one-on-one human interaction with your institution. And it's no wonder when according to Zendesk, 79% of consumers prefer to speak to a customer service representative on the phone.

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