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LenderHub

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

 

Recent Posts

[Video] Why are Loan Officers Afraid to Offer Products?

There's a big difference between offering borrowers products and services that they need and "pushing" products, yet, for many loan officers and financial institution staff, the two ideas are often seen as one in the same. There are many reasons why loan officers fear the idea of a sales culture, and there are also a few key ways that financial institutions can overcome this challenge to ensure borrowers are being offered the right products and services to meet their unique needs. 

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Innovative Ways to Grow Deposits

Growing and maintaining deposits is a constant factor for any financial institution. If a consumer isn’t taking their money to you, then where is it going? That’s right­—your competitor. So, where do you start? As any great leader would tell you, you need to have a goal in mind, set expectations, and share those expectations with your staff. With all of the competition in today’s marketplace, it’s essential that you think of innovative ways to grow deposits.  

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Become Your Customers' Biggest Ally During National Financial Literacy Month

According to a poll conducted by Pew Charitable Trusts, out of 7,000 U.S. households: 57% don't consider themselves ready for a sudden financial setback; 55% say they break even or spend more than they make each month; and 1/3 have no savings—at all. Shocking, isn’t it? Financial literacy is a topic that often slips through the cracks. That’s why as a financial institution, it’s essential to educate your customers. You’ve heard the saying “knowledge is power,” and in this case, the knowledge that you pass on to your customers can help your bottom line. And, since you have their best interest in mind, it will also allow you to build trust and customer loyalty.

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Overcome the Fear Factor—Arm Loan Officers With GAP Sales Tools

Fear of rejection. Lack of product knowledge and skill. It’s not their job. These are three of the leading reasons loan officers cite when asked why they are hesitant to sell Guaranteed Asset Protection (GAP) coverage to borrowers. GAP coverage gives consumers a safety net if their vehicle is ever totaled or stolen and not recovered—helping cover the difference between their insurance company’s payout and the balance on their auto loan.

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Your Auto Loan Product Experts are Just a Click Away

Have you ever had a moment like this?

It’s late in the afternoon, and you’re finalizing an auto loan. You've presented the borrower with a fully protected payment, which includes products that will

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