<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=905697862838810&amp;ev=PageView&amp;noscript=1">
LenderHub_header.jpg

Gain a New Perspective on Credit Life Insurance

Posted by Joan Cleveland   |  September 18, 2017 at 10:41 AM

In the financial services industry, it is widely known that credit life insurance pays off the outstanding loan balance to which it is attached. But have you ever really realized how credit insurance is a key component in serving American households who may have no life insurance at all—that is, up until the point where you, the lender, offer it. According to LIMRA’s 2016 Life Insurance Ownership Study, 37 million households don’t own any life insurance coverage whatsoever. In addition, more than 10% of all U.S. Households said they would have trouble covering everyday living expenses after several months if the primary wage earner died. I think it would be safe to assume that the primary wage earner was definitely the borrower or co-borrower on their existing loans.

Read More

Attributes of the Most Effective CPI Programs

Posted by Michael Dippo   |  August 29, 2017 at 9:49 AM

SHARE THIS


  Your aging CPI program have you worried? Could Hybrid CPI be the answer?

 Reducing borrower noise and lowering CPI premiums resulted in the creation of Hybrid CPI

The largest asset that a lender has is their loan portfolio. In order to mitigate the risk caused by uninsured collateral, lenders have several options to choose from in loan risk management programs. Not all programs are the same, so, your financial institution needs to carefully review the program which best fits your needs, considering the collateral being financed, the make-up of the loan portfolio, and the amount of risk your team is willing to assume.

Read More

Four Payment Processing Best Practices to Deploy with Your Employees

Posted by Brad Young   |  March 16, 2017 at 4:13 PM

We all know that any process involving humans is subject to human mistakes. When your staff works with and processes credit and debit card payments, as many employees in financial institutions do, there's room for human error—in addition to intentional fraud—in the event that employees mishandle card data with no ill intent. However, these careless actions are data security violations, which can lead to fraud and improper charges to your customers' accounts.

Read More

Reducing Member Noise: An Interview with Cabrillo Credit Union

Posted by Cyndy Stewart   |  September 29, 2016 at 4:17 PM

We developed Hybrid CPI as an alternative tracking method to help our partners secure their collateral while maintaining positive member relationships and demonstrating to regulatory agencies that they are treating borrowers fairly. However, sometimes "out with the old and in with the new" is easier said than done, particularly when it comes to tried-and-true methods that lenders have been using for decades. It's not always easy for lenders to move away from their lender-placed comfort zone they're acquainted with and after all, "if it ain't broke, don't fix it," right? Well, many of our clients found that by transitioning from the industry-standard CPI program to our Hybrid solution they were able to realize numerous benefits including increased cash flow, reduced delinquencies and repossessions due to premium add-on, and reduced program administration burden and reduced member noise.

Read More

A Credit Union Man: Part 2

Posted by James Ryan   |  August 5, 2016 at 1:52 PM

"You may fool the whole world down the pathway of years, And get pats on the back as you pass, But your final reward will be heartache and tears, If you’ve cheated the man in the glass." -From The Man In The Glass by Peter Dale Wimbrow Sr.

When you work in the credit union business, you can always be proud of how you make a living. As a movement, credit unions do not aim for profit or charity, but for service. Credit unions offer affordable interest rates members may need to get through a rough patch and improve the quality of life for families across the country.

Read More

What Repossession Really Costs Your Financial Institution

Posted by Karen Townsend   |  April 8, 2016 at 1:59 PM

Auto lending has many perks, including helping valued customers by helping them get into a vehicle they want or need, building and deepening relationships with your borrowers, and ultimately, creating a vital stream of interest income. However, lending also comes with unique challenges such as delinquency, insurance tracking and placement, and worst-case scenario, repossession.

Read More

4 Ways to Minimize Employee Fraud and Theft

Posted by Shannon Delaune   |  April 1, 2016 at 9:54 AM

Unfortunately, we live in a world where businesses, and people in general, have to be prepared for the possibility of a robbery or theft. For a business owner, it can be hard to think about your trusted employees engaging in dishonest or fraudulent activities that could harm your company, but the fact of the matter is, it happens more often than you think. Here are some of the cold hard facts from the 2016 Report to the Nations on Occupational Fraud and Abuse:

Read More

Payment Protection: An Invaluable Program

Posted by Joan Cleveland   |  February 25, 2016 at 10:00 AM

Financial institutions—almost everyone deals with one on a regular basis. Everything from a cash deposit to making a financial investment and taking out a loan can be conducted through a financial institution. But, did you know that 61% of borrowers still DO NOT fully trust the financial firms they conduct business with on a regular basis. As a lender, this number may or may not come as a shock. So, how can you begin to improve that number while keeping your bottom line top of mind?

Read More

How to Successfully Manage Your Real Estate Owned (REO) Portfolio

Posted by Craig Carson   |  February 11, 2016 at 2:48 PM

Although it feels like the housing crisis is in our rear view mirror, lender foreclosure exposure remains high. Based on market data from leading property information and analytics providers, foreclosure rates are down from peak levels in January 2011; however, are still high when compared to historical trends. The primary reason for the higher than expected levels is the duration, especially in judicial states, to complete the foreclosure process.

What at one time consisted of four or five properties that took 60 to 90 days to sell, has turned into sometimes hundreds of properties that can take six to nine months, or more, to move. If your financial institution has been thrown into unfamiliar territory and you aren’t sure what to do or how to manage your large REO portfolio, we have a few ideas that we would like to share.

Read More

Telephone Consumer Protection Act (TCPA): What You Need to Know

Posted by Dan Boozer   |  February 5, 2016 at 9:00 AM

Most of us cringe when the phone rings, and we find ourselves on the receiving end of an uninvited sales call. Bill collection calls are even more unwelcome, but of course collection calls are inevitable if due dates lapse with no payment received.

When collection calls are unwarranted, there’s a fine line between those calls and harassing telemarketing calls. To protect consumers from unwanted and/or harassing telemarketing, the Federal Communications Commission enacted the Telephone Consumer Protection Act (TCPA), which has expanded in recent years to cover newer technology like text messages.

Read More

About the LenderHub Blog

SWBC's LenderHub blog is a one-stop resource for lenders. Come here to learn tips and best practices for risk management, income generation, marketing, operational improvement, and customer retention, as well as to learn about industry trends and SWBC news.