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LenderHub

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

 

Overcoming Collections Challenges with Integrated Solutions

Collections plays a critical role in your institution’s financial health. While delinquency rates can be cyclical, rising and falling as the economy shifts, for lenders, it’s critical to keep themselves in a position to be able to manage both increases and decreases in delinquency efficiently.

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The Keys to Streamlining Your Loan Origination Process

The mortgage loan origination process can be clunky and inefficient. Ultimately, the goal of lenders is to close as many qualified mortgage loans as possible—while remaining compliant, of course.

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Preventing Carding in a Cashless Age

There’s no shortage of scams affecting consumers and financial institutions alike when it comes to credit card fraud. According to the Federal Trade Commission, scammers ripped off Americans to the tune of $423 million last year through wire transfer fraud. Surprisingly, younger people, ages 20-29, reported losing money to fraud at an alarmingly higher rate than their 70-80+ counterparts—43% compared to 15%, respectively.

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The Benefits of Implementing Debit Card Payment Options

Companies in every industry have had to adapt to growing consumer expectations for financial interactions that are fast, easy, and secure. Experiences with online retail firms like Amazon have conditioned consumers to expect a seamless payment process where debit or credit cards can be used with the click of a button from any device—or even activated through voice commands. That retail experience has evolved into strong bill payment preferences that have influenced how consumers want to manage their loan payments.

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Shifting Focus to Your Underinsured Borrowers

It’s no secret that the demographic makeup of a financial institution’s membership is changing. As Boomers near retirement, their children are entering the mid-career phase of their lives, and their grandchildren are starting their financial journey. Each of these demographic segments has different product and service needs, as well as differing expectations from their financial service providers.

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On the Road with Rising Auto Loan Delinquencies

Delinquencies in the auto loan landscape are the highest they’ve been in the past decade. According to the New York Fed's recent blog post, 2018 was marked by historically high levels of newly originated loans in the auto industry, with $584 billion in new auto loans and leases showing up on credit reports. At the end of 2018, more than 7 million American borrowers were behind on their auto loans by 90 days or more.

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4 Ways to Make Your Financial Institution a Borrower's First Choice

In this age of digital communication, smartphones, smartwatches, and instant information, consumers don’t have to look far—or at all (Hello, digital ad retargeting!)—to find companies that are chomping at the bit to serve them in just about any capacity. While this is great for consumers, it poses a challenge to lenders. How can financial institutions rise above the increasingly large pool of competitors to win a borrower’s business? Fortunately, traditional financial institutions already offer their customers many advantages, and focusing on those existing advantages is the key to winning business and deepening your existing relationship.

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Credit Union Industry Stats and Performance Trends: Q4 2018

I look forward to CUDATA.COM’s statistics and trends report each quarter. It gives our team insights into what our industry is experiencing and how that will impact our clients and their members. 2018 ended on a high note, and we are seeing a strong start to 2019. Here are some notable KPIs from the report:

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Increase Borrower Satisfaction Through Payment Convenience

Imagine a world where ‘It got lost in the mail’ is no longer a viable excuse for late or missed payments. Not only is payment processing an essential operation for any business, it is also a point of contact that directly correlates with customer satisfaction. If there was a way to increase borrower satisfaction by tweaking your payments process to a more convenient model, would you buy in?

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The Transition to Non-Traditional Property Valuations

As leaders in the mortgage lending industry, we have the distinct privilege of working directly with key decision makers at lending institutions to learn about their challenges and provide solutions. When it comes to ensuring their collateral is properly valued, lenders and servicers have been very vocal about wanting property valuations that are cost effective and offer the confidence of a field appraisal.

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