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LenderHub

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

 

Vulnerable

The discovery of the coronavirus, now named COVID-19, last month in Wuhan, China, and its subsequent spread out of China and around the world has caused great uneasiness and alarm.  On Tuesday, the US Centers for Disease Control and Prevention warned Americans to prepare for a coronavirus outbreak at home that could lead to significant disruptions of daily life, since hitting an all-time high last Wednesday, the S&P 500 has fallen 13% while the 10-year Treasury yield has fallen to a new all-time low of 1.17%. 

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"A Horrible Mess"

Reuters News reported.

In remarks prepared for a New York University financial conference, Jerome Powell, Federal Reserve governor, said this Libor doomsday scenario must be avoided considering that there are now “$150 trillion in outstanding U.S. dollar Libor contracts,” to end Libor, a benchmark lending rate used for everything from mortgages to interest-rate swaps, would be a “protracted, expensive and uncertain process,” warned Powell.

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Collections Strategies for Indirect Borrowers

Indirect loans are becoming increasingly popular in the modern lending landscape. While these products can be great for borrowers seeking the best rates and financial institutions hoping to expand their business, indirect lending also creates a unique set of challenges, especially when it comes to collections.

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Transaction Laundering in the Payments Landscape

These days, criminals have turned to internet-based transaction laundering to disguise profits from unscrupulous and illegal enterprises. Transaction laundering has also been referred to as factoring, undisclosed aggregation, and electronic money laundering, and it occurs when an undisclosed online business uses another company’s payment credentials to process unknown transactions on behalf of the undisclosed business.

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[Case Study] How Heritage FCU Increased Loan Protection Product Sales

In February 2018, Heritage Federal Credit Union (FCU) launched a new program to encourage healthy competition, foster internal recognition, improve upon member service, member impact, and increase non-interest income with SWBC loan protection products—GAP, Payment Protection, and MMP.

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Why Your Bank Should Have a Business Owner Planning Platform

Exit planning is complex, and unfortunately, not many of your commercial customers have the technical acumen or resources needed to ensure they are prepared. They must establish their exit goals and plan for business transfer, build their business’ value, find an appropriate successor or buyer, navigate taxes, and keep their key employees happy enough to stick around, among other things. With so many considerations and activities surrounding a business exit, whether they know it or not, your commercial clients need access to a team of advisors.

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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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