Below you'll find a list of all posts that have been categorized as “Servicing Systems”
Loan servicing compliance is one of the most important things community bankers think about when they manage their loan portfolios. Yet providing competitive loans to borrowers and managing them well is only one part of the process. You also must ensure that you’re following all federal and state regulations like the Equal Credit Opportunity Act and the Fair Debt Collection Practices Act.
Following a loan servicing compliance guide and relying on experts to guide you can help protect your credit union members. Just remember that you still have to go through the process of researching specific regulations for your state and industry to remain compliant.
The community banking industry is abuzz over loan servicing companies. Third-party loan servicing is one of the biggest community banking trends of the decade. The loan servicing software market is a $522.3 million industry and is expected to grow to a $785.6 million industry over the next five years.
Credit unions want to offer their members exceptional lending services. That’s tough to do when member expectations rise every year. As more lending technology and lending options become available, credit union members expect a lot from their local branches.
Many lenders are getting out of the loan servicing business altogether because it’s too difficult and costly to manage. This is why modern lenders are embracing a better alternative: Third-party loan servicing companies.
Lending and leasing for vehicles can involve remarketing off-lease and repossessed vehicles. At the end of those contracts, many community banks simply want to obtain maximum value for the pre-owned vehicles in the most efficient manner.
As you begin the process of evaluating lease management service providers, use this concise list of attributes and capabilities to assess their qualifications.
With leases being a significant portion of the new vehicle market, dealers and lenders are looking for the most efficient ways to manage lease services. Many have reached the conclusion that an auto lease servicing provider is best suited to handle post-funding lease management.
As you begin the process of evaluating lease management service providers, use this concise list of attributes and capabilities to assess their qualifications.
The big loan management software trends for 2020 focus on achieving two major goals: Reducing risk and identifying new lending opportunities. The ability to use data to support both goals needs will determine lending success in the new year and beyond.
