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LenderHub

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

 

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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How to Deal with Hostile Debtors when Recovering Collateral

Everybody in lending knows that collateral recovery and vehicle repossessions are unpleasant and unenjoyable for all parties involved. Unfortunately, it's a part of business in auto lending. And as long as your financial institution and its staff are tracking collateral and assets, you'll encounter angry, hostile borrowers who will make asset collection as difficult as possible. Here are some tips for how to deal with hostile debtors when your financial institution staff, field agents, and repossession agents are trying to recover collateral.

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Commonly Asked Questions about Automated Valuation Models

An Automated Valuation Model, or more commonly known as an AVM, is a program that automatically analyzes various data points to produce an estimate on the current value of a home or property. An AVM includes:

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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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How Home Equity Lending Can Deepen Customer Relationships

One of the main sources of wealth among American families is homeowner equity. According to a report from the Federal Reserve1, household net worth in this country rose to a new record, hitting $98.74 trillion. But what does record-breaking homeownership mean in today’s world and how will it affect your financial institution? Increasing wealth from homeownership is positive for our economy, but one lingering concern is rising interest rates and increased home prices. We know that these numbers are projected to rise which could change consumer buying habits, i.e. homeowners may opt to renovate their home rather than sale and purchase a new one. By increasing your focus on home equity lending, you can provide your customers with options that may benefit them and their current situations.

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How Baby Boomers May Hold the Key to Auto Lending Sales

By now, you've probably heard the sad auto industry news, that vehicle sales are down this year and are not expected to rebound anytime soon. Basically, auto manufacturers did too good a job in recent years, building cars that last longer than ever and still run properly. As a result, consumers are not forced to replace their vehicles as soon or as often as in years past.

Of course, unfortunately for the auto lending industry, as auto sales stall, so do lending sales.

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A Deeper Look Into the Appraiser Shortage

The shortage of appraisers has been an ongoing concern within the real estate industry. According to a National Association of Realtors (NAR) survey conducted last year, there are three major factors resulting in the appraiser shortage.

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Columbine FCU Finds Indirect Lending Success with Hybrid CPI

When a Collateral Protection Insurance (CPI) program is implemented correctly, the program protects the lender and borrower in the event a customer fails to update their auto insurance status. As the Consumer Financial Protection Bureau (CFPB) continues to crack down on unsavory insurance tracking tactics by banks and underwriters, your financial institution should compare program options and determine if traditional CPI or Hybrid CPI is the better choice for your risk management strategy.

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How Longer Auto Loan Terms Impact Your Financial Institution

Long-term auto loans are known to be riskier, so why are they increasing in popularity when it comes to auto lending? In the auto industry, it’s not uncommon for consumers to have negative equity in their vehicle. Consumers want the latest and greatest when it comes to savvy technology and features so they upgrade their vehicles, and with that comes a cost. In order to keep costs down, many consumers are opting for longer terms in order to keep their payments affordable. But, does this set them up for financial failure?

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Use Loan Protection Products to Accelerate Sales

2018 is shaping up to be a slower year for auto sales and lending after two years of record-setting sales. Interest rates are increasing, and while those increases aren’t jaw-dropping, they’re likely to stop some auto buyers and borrowers from replacing their vehicles.

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