5.10C Lending From Request to Disbursement: Understanding the Application Process

Lender*VP

Summary

This class focuses on selling loans to members.  From the initial “hello, how are you?” to the “where would you like your loan funds?” this class shows how CU*BASE can make every credit union staff member an effective loan sales rep.

The key to making a member a lifetime borrower is an interactive lending database that tracks the member’s application information the entire time that member is active.  This database creates a state of readiness that can be accessed for use not only by credit union staff but for the online banking products of the future.

How do you sell a loan?  Are your members “on line” or do they still fill out applications, wait in line, and wonder why you don’t remember them since the last time they needed a loan?

Audience

This class is designed for all credit union personnel involved in selling loans to members.

Objectives

By the completion of this course, students will have:

  •         Analyzed the steps and components of a loan interview from start through closing.
  •         Discussed the measurement of a loan department’s output.
  •         Discussed additional uses for underwriting databases.
  •         Defined the key components of approving or denying a member loan request.

Topics

  •         Loan Quoter
  •         Loan Requests and Working with the Electronic Loan File
  •      Credit Reports
  •      Outstanding Loans
  •      Open-End Loan Contract
  •      Risk-Based Lending
  •         Loan Application Processing and Household Enrollment
  •         Electronic Loan Checklist
  •         Printing Loan Forms
  •         Creating Loans and Disbursing Funds
  •         Loan File Verification
  •         Underwriting Databases:
  •      Member Written Applications
  •      Credit Bureau Credit Reports
  •      Online Household Database
  •      Online Archived Applications

Course Offerings Schedule

Future times and dates are to be determined.