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LenderHub

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

 

Connecting With Account Holders in Times of Crisis

No one could have foreseen the unprecedented challenges that businesses and individuals have had to face this year. A global pandemic, nationwide shelter-in-place orders, school closures, mass event cancellations, and an uncertain economic future hit America all at once, creating an environment of anxiety that has both businesses and consumers scrambling to keep up.

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The Impact of COVID-19 on the Auto Lending Industry

One of the greatest things about my job here at SWBC, and as a former lending executive, is that I get to speak with financial institution leaders, more specifically, credit union lending executives, on a regular basis. In recent weeks, unfortunately, a lot of the conversations I've been having have not been as upbeat as we would typically like. And, that's primarily because of the effects of the COVID-19 outbreak on many parts of our organizations, but more specifically, significantly declining levels of auto loan originations and loan growth in the credit union space.

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Relationship Building During the Pandemic

We are living in some very uncertain times; things are literally changing from minute to minute in our world due to the coronavirus pandemic. It can often feel as though you are not sure which way is up and which way is down. As a professional relationship builder, I have experienced this feeling nearly every single day in recent months.

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Alternative Appraisal Options During Coronavirus Disruptions

COVID-19 has created unique challenges for the home appraisal process—nationwide shelter-in-place orders and social distancing guidelines have made it difficult for appraisers to do on-site inspections, which means that turnaround times and appraisal fees have increased due to COVID-related backlog.

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Auto Finance Market Stats and Trends: Q4 2019

It’s that time again—time to breakdown the latest State of the Automotive Finance Market1 report by Experian. Overall, the auto lending market was strong as 2019 came to a close. Total open loan balances reached $1.22 billion at the end of Q4, with the majority of lenders portfolios remaining deep subprime and prime.

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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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[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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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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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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