5.10W 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:

n        Analyzed the steps and components of a loan interview from start through closing.

n        Discussed the measurement of a loan department’s output.

n        Discussed additional uses for underwriting databases.

n        Defined the key components of approving or denying a member loan request.

Topics

n        Loan Quoter

n        Loan Requests and Working with the Electronic Loan File

§     Credit Reports

§     Outstanding Loans

§     Open-End Loan Contract

§     Risk-Based Lending

n        Loan Application Processing and Household Enrollment

n        Electronic Loan Checklist

n        Printing Loan Forms

n        Creating Loans and Disbursing Funds

n        Loan File Verification

n        Underwriting Databases:

§     Member Written Applications

§     Credit Bureau Credit Reports

§     Online Household Database

§     Online Archived Applications

Course Offerings Schedule

Lending From Request to Disbursement: Understanding the Application Process