The 5 things loan officers should stop spending time on today

first_imgGone are the days when getting a loan meant putting on your finest duds to meet with a loan officer. It’s also not helping matters that we’re months-deep into a pandemic that has made everyone wonder if putting on pants and going anywhere is a relic of the past.If we’re really being honest, lending hasn’t been that way for years now. Lending today is …SoFi: Click button, refi student debt.Rocket Mortgage: Click button, get mortgage.Kabbage: Click button, get business loan.And yet, so many lending models still support the old way of doing things. What’s stopping today’s lenders from embracing the modern way?Credit unions must empower their loan officers to originate, cross-sell and serve members at higher, faster levels. It’s not that loan officers don’t want to – antiquated processes are bogging them down.By embracing digital lending, credit unions enable their staff to do much more – while at the same time increasing employee satisfaction. Tedious processes, duplicate work and menial tasks are a burden on efficiency and morale, table stakes for digitally transforming financial institutions.Here are the five things loan officers should stop spending time on today…Prospecting for leads. There is a time and place for cold-calling and networking, but these methods for generating new business can be very time-consuming. The truth is, your credit union has the information it needs to more effectively identify new opportunities through the utilization of data analytics. You’ve already got the information, why not let algorithms and statistical models do the work for you?Inputting applications. Having to enter information multiple times (or even one time) is a common annoyance and time-wasting activity for lending staff. Loan applications should be prefilled by your core system, or extremely easy for prospective members to complete on their own.Manual underwriting. Automated underwriting moves the loan process forward leaps and bounds in terms of efficiency, and even better, it often reduces credit risk. A credit union can set its own scoring criteria and let software make consistent, objective and nearly instant loan decisions. You don’t need to remove humans from the process totally to reap big benefits.Preparing and reviewing documents. Implementing paperless lending processes with electronic document signing saves much precious time (and trees!) in the way of preparing, handling, checking and redoing paper documents. This change alone significantly increases a lending team’s capacity to process loans with the same amount of staff. Some credit unions are doubling and tripling their volume. Even more, it eliminates the risk of errors, such as missing information, and greatly improves the experience for the borrower.Closing loans. I’m not suggesting that loan officers shouldn’t spend any time on loan closings – but they can spend much less, with better results. Remote technology that achieved greater adoption during COVID-19, like Remote Online Notarization (RON), provides for a completely digital closing process. It 100 percent eliminates time spent on paper handling, can be completed from anywhere and is very secure. Credit unions that began using RON during the pandemic received an overwhelmingly positive response from members who appreciated the ability to conduct business safely from home.Implementing a modern, digital lending process doesn’t mean you remove the human touch credit unions are known for. Instead, it enables the highest and best use of skills that are uniquely human. If loan officers stop spending time on tasks that can be automated and digitized, they can start finding more time to create valuable, meaningful experiences for members and the community. 23SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ben Rempe Ben Rempe is COO of fintech CUSO LenderClose. With API connections to every vendor it takes to originate a mortgage or HELOC, LenderClose gives loan officers immediate access to a … Web: https://www.lenderclose.com Detailslast_img read more

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Nintendo smashes Switch sales view, says Animal Crossing is device’s fastest-selling game

first_imgThat breaks down as 14.8 million units of the hybrid home-portable device and 6.2 million units of the handheld-only Switch Lite, which went on sale in September.ShortagesThe popularity of the device and the coronavirus outbreak’s impact on supply chains has led to Switch shortages around the world, preventing the company from taking full advantage of pent-up demand.The company said production and shipping are “gradually recovering” following pandemic-induced delays but pointed to the risk of further disruption including to games development.“It is difficult to expect the same productivity” from employees working at home, Furukawa said, adding delays to game releases are a possibility if the crisis is protracted.Nintendo has provided few details of upcoming titles, risking putting a break on sales momentum as studios across the world scramble to mitigate disruption from the virus. Rival Sony Corp (6758.T) has already announced delays to high-profile releases.Topics : Japan’s Nintendo Co Ltd (7974.T) said on Thursday its fourth-quarter profit soared 200 percent due to surging demand for its Switch games console, and that title Animal Crossing: New Horizons shifted a record 13.4 million units in its first six weeks.The Kyoto-based gaming company posted operating profit of 89.4 billion yen (678.32 million pound sterling) for January-March, Reuters’ calculations showed based on annual figures, smashing analyst estimates.Nintendo has defied scepticism over its ability to draw in consumers beyond a hardcore base in the Switch’s fourth year with the runaway success of Animal Crossing: New Horizons, which has become the console’s fastest-selling title since launching on March 20. The appeal of the title among consumers looking for escapism in coronavirus-hit economies around the world underscores Nintendo’s games-maker credentials at a time when investors have been frustrated by the company’s conservative management, which includes what many regard as a half-baked foray into mobile gaming.Nintendo said it expects to sell 19 million Switch console units in the current financial year. Its forecasts are widely viewed as conservative.“Animal Crossing’s impact was bigger than expected but is temporary,” CEO Shuntaro Furukawa said, adding he did not see the company’s forecasts, which include a fall in full year software sales to 140 million units, as conservative.In the year ended March, Nintendo sold 21 million Switch consoles, well above its forecast of 19.5 million.last_img read more

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GO-TIME: Department of Human Services Announces Upcoming Upgrades to Mobile App

first_img Efficiency,  GO-TIME,  Government That Works,  Press Release,  Results Harrisburg, PA – Governor Wolf’s Office of Transformation, Innovation, Management and Efficiency (GO-TIME) joined the Department of Human Services (DHS) and Just Harvest to discuss the success to-date of the myCOMPASS PA mobile app and future upgrades to provide additional features.“Since the mobile app’s launch in December, the department has seen positive impacts in the way clients access and monitor their benefits,” said DHS Secretary Ted Dallas. “We are committed to improving customer service and helping Pennsylvanians access critical services through multiple interfaces. The myCOMPASS PA app allows clients to proactively manage their benefits from the convenience of their own homes.”The myCOMPASS PA second release is set to launch in August of 2017. Key features will include:Users will be able to report changes to household information such as wage changes, new job, pregnancy, etc. on the case;individuals can start and complete the SAR process; andthe application will provide the ability to view notices.Once fully implemented, myCOMPASS PA is estimated to save an average of $3.2 million per year by reducing mail processing time, manual information entry, call center volume, postage, and printing.“Mobile access is a fantastic improvement in customer service for people receiving public benefits,” said Just Harvest Executive Director Ken Regal.Currently, myCOMPASS PA allows individuals to photograph and upload key documentation to their account, view processing status of applications, and update case-related information.In the three months since its launch, 37,120 users have downloaded the app, reviewed the status of their benefits 177,299 times, and 21,946 documents have been uploaded.“Because myCOMPASS allows DHS customers to upload documents from their mobile devices, we’re reducing the number of trips into the county assistance office,” said Dallas  “Fewer trips into the office mean less time off work and less transportation costs and challenges. From a CAO employee perspective, it enables our staff to spend less time on paperwork and more time with our clients.”The mobile application is now available for download on the Apple and Google Play app stores for use on iPhones and Android smartphones. Prior to utilizing app functions, individuals must apply for benefits through DHS’ COMPASS website or by visiting their local county assistance office.For more information on myCOMPASS PA, click here.“The myCOMPASS app demonstrates how we can use technology to meet increasing demand for services, improve customer satisfaction and make our workforce more efficient,” said Sharon Ward, Director of GO-TIME. “It is a success for DHS clients, case workers and taxpayers.”GO-TIME leverages inter-agency coordination and collaboration to maximize efficiency, modernize state government operations, and provide the highest quality services. State agencies saved over $156 million in FY 15-16 and Governor Wolf challenged GO-TIME to build upon this success by achieving $500 million in savings by 2020.To learn more about GO-TIME, visit https://www.governor.pa.gov/go-time/. March 24, 2017 SHARE Email Facebook Twittercenter_img GO-TIME: Department of Human Services Announces Upcoming Upgrades to Mobile Applast_img read more

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Apartment complex developer says tide is about to turn for long suffering Cairns unit market

first_imgCambell Balderson of Keir Constructions and Nicholas Slatyer of Belle Property in front of the new apartments at Yorkeys Knob. Picture: BRENDAN RADKETHE developer of a Yorkeys Knob unit complex has indicated that more Far North apartment projects could be on the horizon.While new unit complexes have been as rare as hen’s teeth in Cairns over the past seven years, Whitehaven Apartments on Wattle St is now “100 per cent complete”.Developer Troy Price, owner of Price & Partners, said interest had been “very strong” in the 21 two-bedroom units.“We’ve sold about 14 … they might go close to being sold out by Christmas,” he said. The project comes about eight years after Mr Price’s last Far North residential development – a block of luxury townhouses at Clifton Beach. While based in Brisbane, he has strong family ties to the tropics.Mr Price’s grandfather Pat moved to the region after World War II and developed a Port Douglas resort, while his dad Wayne is well known in local construction circles.When asked whether his company would look to pursue more unit developments in the Far North, the businessman was forthright. “Definitely. Without a doubt,” he said. “We’re very confident in Cairns. You’ve got an increase in tourism, both international and domestic.”More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoKeir Constructions have completed work on the Whitehaven Apartments unit complex on Wattle Street, Yorkeys Knob. Picture: BRENDAN RADKEThe unit complex was built by local company Keir Constructions, while Belle Property will drive marketing of the apartments, which start at just under $430,000.Belle Property Cairns principal Nicholas Slatyer Whitehaven Apartments offered a great “bang for your buck”.“It’s one of only two or three new apartment complexes built in Cairns over the past seven or eight years, and among the highest quality that I’ve seen,” he said. Mr Slatyer believed the new Yorkeys Knob complex was an indication of long-awaited change for Cairns’ unit sector.“I think this is the very beginning, the first sign of a unit market that’s on the cusp of recovery,” he said. “The unit market has been tightening over the past five years, especially in the CBD.“If you’ve wanted to buy a residential-style apartment in Cairns City, there’s been limited choice.“I think the real fireworks will be in the second half of 2018 – once the full scope of what’s under construction in the Cairns CBD is felt, we won’t recognise the marketplace.”last_img read more

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Local County Has Highest Unemployment Rate In State

first_imgThe jobless rate in Fayette County rose to 8 percent in May. (Image: Tour Connersville)A southeastern Indiana county has the highest unemployment numbers in the state, according to new data released by the Indiana Department of Workforce Development.The jobless rate in Fayette County increased last month from 7.6 percent to 8 percent. The county now has the highest unemployment rate surpassing Vermillion County at 7.8 percent.The May numbers show the unemployment rate held steady across the state at 5.7 percent, mainly due to approximately 2,000 Hoosiers returning to the labor force to look for work.Indiana’s rate of unemployment remains more than one-half of a percentage point below the national rate. Indiana’s labor force gains also continue to outpace the national rate, as the Hoosier labor force has grown by more than 46,000 over the past year, while U.S. increases have been minimal.“The Hoosier labor force has grown significantly for the past eight months in a row,” said Scott B. Sanders, Commissioner of the Indiana Department of Workforce Development. “This is not the case with some of our neighboring states who have experienced unemployment rate declines due to decreases in their labor force. It is clear that Hoosiers are going back to work and that good jobs are available.”Other counties in the region were just above or below the state average with Ripley County at 6.1 percent, Dearborn at 5.8 percent, Franklin County at 5.6 percent, and Decatur County at 5.2 percent.last_img read more

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Fear drives eager United boss Moyes

first_img Press Association The major positive for Moyes is that the players now under his charge have been responsive to the way he has gone about his work. “Sometimes when there is a change – and I heard some of the players saying it – you have to impress the new manager,” he said. “I have got to say I have been incredibly impressed about how the players have gone about their work. “There’s not been a day when I’ve had people ‘throwing out’ [slacking off]. If anything, they’re enjoying it and they’re asking for more.” Already though, Moyes has shown a willingness to let his squad know if he feels more is required. An intense person by nature, the Scot insists he is not quite as bad as he once was. But a forthright lecture in Bangkok was a sign of his own standards. “I’m going to drive,” he said. “And I’m going to demand the best out of players. I’m going to demand that they give me more, or as much as I can get from them.” “There has to be an element of fear that comes with managing a club like Manchester United,” he said. “It keeps you working, it keeps you focused and helps you try not to take your eye off the ball. “Someone said, ‘You’ll do it easy’. I’m not saying who it was but I don’t take that as a given, because I know it’s going to be really hard at Manchester United. “But in the same breath it is a great one (job) because of what I have available and what Sir Alex has left.” Moyes has repeatedly underlined his intention to ask Ferguson for advice. But he is also acutely aware he must step out of that vast shadow and stamp his own imprint on United if he is to make a success of the job. “It has to be a new era,” he said. “My job now is to make my history. “I’m going to follow someone who has made incredible history. I think about Matt Busby’s history and then Alex Ferguson’s history – they could do a film about it. “I have to make sure now that my history and my time is something which the fans and people in the future talk about.” That Moyes was handpicked to take over at Manchester United by Sir Alex Ferguson does not reduce the enormity of the task. And, speaking to newspapers on the club’s five-match pre-season tour, Moyes, while expressing excitement at what lies ahead, also accepts the reality. David Moyes has admitted there is a fear factor that comes from being asked to replace the most successful football manager in British history.last_img read more

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Syracuse men’s soccer ties No. 8 Clemson in national semifinal rematch

first_img Published on October 21, 2016 at 10:47 pm Contact Matt: mcschnei@syr.edu | @matt_schneidman Just like in the College Cup semifinal, neither Syracuse nor Clemson mustered a goal in 110 minutes. This time, there were no penalty kicks to determine which team advanced to the national championship.Chances were few and far between on Friday night as both sides managed just two shots on goal, but a late acrobatic save by Syracuse goalkeeper Hendrik Hilpert preserved his eighth shutout of the season in No. 6 Syracuse’s (10-3-2, 3-2-2 Atlantic Coast) scoreless draw with No. 8 Clemson (9-2-4, 3-1-3) at Historic Riggs Field in Clemson, South Carolina.“No penalties this year, which was probably good for everybody,” SU head coach Ian McIntyre said. “These are fun games to be involved in. It’s a little bit helter-skelter. I think there probably could’ve been a little bit more quality in the 110 minutes.”SU and the Tigers are the top two teams in the ACC in terms of fouls committed, and both surpassed their season averages by committing 16 and 19, respectively. Syracuse’s Mo Adams, who has started every game thus far and scored his first-career goal against Hartford on Tuesday, will miss SU’s regular season finale due to suspension after picking up his fifth yellow card of the season.The game was scrappy, and despite Syracuse dominating possession it wasn’t able to generate the chances it has on such a consistent basis. The Orange’s lone shot on goal in regulation was a soft header by Johannes Pieles that fell gently into the hands of Clemson goalkeeper Ximo Miralles.AdvertisementThis is placeholder textIn the second overtime period, Hilpert came well off his line to clear a ball out of bounds, which he drilled right into the Clemson bench. He sprinted back to his net and on the next sequence made a diving save with his right hand on a near-post strike from Michael Melvin.“Collectively we defended extremely well,” McIntyre said. “To come on the road to a place like this and keep a clean sheet is terrific.”Syracuse’s draw kept it behind four other teams in the ACC standings with only the top four getting a bye in the upcoming conference tournament.The only team remaining on the Orange’s regular season schedule is No. 2 Wake Forest. Against the other four top-15 teams in the ACC the Orange has played, Syracuse has one goal combined.“It’s so difficult to get points in this league,” McIntyre said. “…I know that we have goals in this team.” Comments Facebook Twitter Google+last_img read more

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Syracuse’s offense carries it to doubleheader victories against Pittsburgh

first_img Facebook Twitter Google+ Published on April 14, 2017 at 9:25 pm Contact Josh: jlschafe@syr.edu | @Schafer_44 Syracuse (23-15, 5-9 Atlantic Coast) scored eight runs in each of its games against Pittsburgh (21-18, 4-13) on Friday, both resulting in wins. SU won 8-0 in the first game and 8-1 in the second game, and has now scored five or more runs in five straight games.In game one, Syracuse made quick work of Pittsburgh, ending the game an inning early due to the mercy rule. The Orange loaded the bases in the first inning and seized the opportunity. Faith Cain roped a ball to left field to knock in the first run of the game. Two batters later, Hannah Dossett sent the ball back to left field for a double, which scored three runners. Dossett’s three RBI’s were a team high for SU while Alicia Hansen led the team in hits going 4-5 from the plate.As Syracuse racked up ten hits, freshman left-hander Alexa Romero only allowed Pittsburgh four. She pitched a complete game shutout, striking out 12 out of the 25 batters she faced.Game two went the full seven innings but the result was similar. Syracuse smacked 14 hits while Pittsburgh only mustered two. In the fifth, Jessica Hesse sent one over the fence in left for a three-run shot. In the next inning, Cain hit a three-run bomb of her own over the center field wall. Seven runs for Syracuse in the fourth, fifth and sixth innings sealed the gameSyracuse’s pitching matched the hitting just like in game one. AnnaMarie Gatti started the game, followed by Sydney O’Hara, before Romero came in to close. The trio combined for 12 strikeouts with O’Hara earning the win and Romero the save.AdvertisementThis is placeholder textSyracuse closes out the three-game series at Pittsburgh on Saturday at 12pm. Commentslast_img read more

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Irish competing in Olympics today

first_imgSailor Annalise Murphy resumes from third position in the laser radial class today at five past five.Carlow’s Finn Lynch is also back on the water after five and he’s in 21st overall.Shane Ryan and Nicholas Quinn are in the pool this evening for their heats in the 100 metres free style and 200 metres breaststroke.The three day eventing team resume from 8th overall at 2 o’clock.In boxing David Oliver Joyce fights in the last 16 of the lightweight division around quarter to ten tonight. Rower Sanita Puspure hopes to reach the semi finals of the single sculls event.The Cork based athlete is in action at twenty to two.In hockey Ireland take on defending champions Germany at 4.30last_img read more

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