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 members 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:

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

nDiscussed the measurement of a loan department's output.

n Discussed additional uses for underwriting databases.

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

Topics

nLoan Quoter

nLoan 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

nElectronic 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 Schedule

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