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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Clippers plan to push tempo, be more versatile in post-Chris Paul Era

first_imgChris Paul controlled the ball for six seasons in a Clippers uniform. He pushed the tempo or slowed it down, as he saw fit. He took the big shots when time was short, or decided who else would. He directed almost everything his teammates did as the consummate floor leader.There was no debating the regular-season results.The Clippers won 50 games or more for five consecutive seasons with Paul as their point guard, and it probably would have been six in a row if not for the NBA lockout that shortened the 2011-12 season to 66 games, down from the standard 82.Paul averaged 18.8 points on 47.5 percent shooting, plus 9.8 assists, 4.2 rebounds and 2.2 steals in 409 career games with the Clippers after six seasons with similar statistics in 425 games with the New Orleans/Oklahoma City Hornets. Newsroom GuidelinesNews TipsContact UsReport an Error “Again, you go into camp and you look at your team and you’ll find the pace that want to play at. I think we should be an up-tempo team, an early-strike team. We should be a very physical team. (But) you have to get your team and see what you really have when you get to camp.”Training camp started Tuesday at the University of Hawaii.There will be new roles for new players, and for the old ones, as well.Adapting won’t be all that difficult, according to guard Austin Rivers, the coach’s son.“We’re just going to hoop,” he said.In fact, there’s not likely to be a normal guard rotation. Austin Rivers might assume the shooting guard position, playing alongside Patrick Beverley at the point. Beverley was the key piece in the Paul trade, arriving with a gritty style of play the Clippers lacked.Lou Williams, a shooting guard who also came from Houston, could be the Clippers’ new sixth man, replacing the departed Jamal Crawford. Milos Teodosic, a dynamic playmaker from Serbia, also could be the starting point guard.Doc Rivers said he plans to mix and match his guards.Up front, things are settled.Or so it would seem.Danilo Gallinari, acquired from Denver in a trade will start at small forward. Blake Griffin and DeAndre Jordan will take their usual spots as power forward and center. But Doc Rivers said all but Jordan might play in different positions from time to time.“Blake will play a lot of positions,” Doc Rivers promised. “We don’t really get into positions, but there will be times when Blake is the tallest guy on the floor. There will be times when he’ll be more of a (small forward) or (power forward). We want him to be an aggressive player, an attack player. He’ll bring the ball up at times. He’ll be one of the guys we use as a facilitator.”All will be revealed in time, Doc Rivers promised.For now, with so many new faces on the court, continuity is the buzzword for training camp.“This camp will be different in that I think we’re going to have to play a lot,” Doc Rivers said. “A lot of camps you can get into your execution and drill work and it all falls into place. This group, we just have to play a lot to catch up.“There’s teams that have been together and have played tons of games together. We’ve played zero games together. So, I think that will be the biggest thing, and then everybody kind of figuring our their roles and accepting their roles. Anybody can figure it out. Accepting it is another thing.“That would be the challenge.”center_img Paul is gone now, traded to the Houston Rockets in a blockbuster offseason deal that enabled the Clippers to overhaul their roster for a fresh start for 2017-18. His departure created new opportunities, but new questions, too, including the most obvious one:How will the Clippers get along without him?Certainly, their style of play must change.Dramatically so, if everything goes as planned.“It mandates a change in style, probably the style I’m more familiar with,” Clippers coach Doc Rivers said when asked about changes in the wake of Paul’s departure. “I’ve always been a ball-movement coach. We can get back into that. I do want to play at a higher pace.last_img read more

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Tigresses battle Lady Blazers, shoot for outright semis slot

first_imgIn fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ View comments Peza offers relief to ecozone firms Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Former Tour champion Ullrich arrested over alleged attack LATEST STORIES Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award UST last tasted a championship in 2010, when Aiza Maizo led the Tigresses to a three-conference romp, capped by the 2010 Shakey’s V-League first conference crown.Leading UST are youngsters Eya Laure, Tin Francisco, Kecelyn Galdones, Carla Sandoval, Alina Bicar and Milena Alessandrini, who have had breakout performances thus far.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone still willing to coach Gilas but admits decision won’t be ‘simple yes or no’But UST assistant coach Ian Fernandez—filling in for Kungfu Reyes, who is with the national team—refused to get carried away, saying they’re up against tough teams.The Tigresses will be tested by the deceptive Lady Blazers, middle-of-the-road campaigners who are within striking distance of the top four. Nadine Lustre’s phone stolen in Brazilcenter_img Palace OKs total deployment ban on Kuwait OFWs ‘High crimes and misdemeanors’: Trump impeachment trial begins Photo by Tristan Tamayo/INQUIRER.netUniversity of Santo Tomas shoots for a fifth straight win and outright entry to the semifinals when it faces St. Benilde Saturday in the Premier Volleyball League Collegiate Conference at Filoil Flying V Centre.On top of the heap with a 4-0 record, the Tigresses are already creating a major championship buzz the way they have not in the past seasons.ADVERTISEMENT MOST READ St. Benilde bucked a 0-2 start to beat San Beda last week, 21-25, 26-24, 25-8, 25-23.Sports Related Videospowered by AdSparcRead Next Gov’t in no rush to rescue animals in Taal Don’t miss out on the latest news and information. DepEd’s Taal challenge: 30K students displacedlast_img read more

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