Lendbuzz’s Post

As a broker, you'll have the confidence to deliver what you promise. Here's how Deana left retail lending to blaze her own trail and most importantly, do right by her clients.

Lending executives usually ask the same question as we conduct secret shopping engagements: what do you notice when you secretly shop banks, credit unions, and IMBs for a home loan? What we notice is how consistently inconsistent the experience is when we shop the same lender multiple times. In STRATMOR Group’s latest Customer Experience Tip, “Shopping for a Home Loan: A Consistently Inconsistent Experience,” Senior Advisor Brett McCracken shows how building a franchise model can help lenders standardize processes and operational efficiency to create a more predictable environment for business success. He suggests several strategies to fix the problem of inconsistency, starting with taking a closer look at how branches are running to identify and acknowledge problems in the process. Check it out here: https://lnkd.in/gPZFKChS

Some great insight into current Non-prime auto lending market.

Check out this great article to learn more about CRIF Select and the state of lending!! #Auto #lending #Indirect #partnerships

Exciting updates from LoanStar! Our MerchantLinQ platform now supports HELOC originations, offering better rates and flexibility for borrowers, and superior options for merchants and lenders. Stay tuned for more enhancements and growth opportunities! Read the blog: https://bit.ly/4cUEC8b #HELOC #MerchantLinQ #Lending #LoanStar

Plend and Monevo Partner to Provide More Inclusive Lending Options  On this partnership, Dawn Wood Monevos, UK Territory Director, said, “Working with the team at Plend to enable them to distribute their product as well as being able to help them support their declined consumers has been a pleasure. We are very much looking forward to seeing the relationship continue to grow.” This partnership will offer tailored support and additional options, resulting in a better customer experience and more affordable choices. Plend's financial inclusion report recommends improved signposting and referrals to reduce the risk of loan shark usage, and this partnership is in line with that recommendation. This is a positive step towards greater financial inclusion, enabling customers to access the credit they require with the support they need. https://lnkd.in/eZNCMm5h James Pursaill #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Near and non-prime consumers favor Chevy and Ford in the used-car market, while Chevy reigns supreme in new car purchases across credit tiers. Lenders need to understand the preferences and purchasing trends of borrowers, like the ones above, to generate the most accurate loan pricing and default insurance offerings. You can find more insights on the near- and non-prime segment in our new report, featuring proprietary data from Open Lending and AutoCreditInsight™: https://lnkd.in/gkJrT37N

When it comes to commercial lending origination, many banks and credit unions are stuck with a "misfit toy" system. These systems, originally purchased and designed to support other business lines, have been twisted, turned, and tweaked in every direction, all in the quest for the elusive "one-size-fits-all" solution. Lenders, however, are not fans of this approach. They don't want to be asked to fill out a jigsaw puzzle of data fields that have nothing to do with their deal, just because "the system says so." When lenders have to roll up their sleeves and dive into these systems, their disappointment is palpable. It's like they are waking up on Christmas morning, tearing open a beautifully wrapped gift, only to find a cowboy riding an ostrich or a train with square wheels. Lenders need tools that help them move forward in their specific roles, not misfit toys that are broken, inappropriate, and not at all what they signed up for! So, if you're in the commercial lending business and are looking for a platform designed to keep things simple for your team and your borrowers, we'd love to chat about Crowe CX for Commercial Lending. So simple, that you’ll have a borrower portal running in 30 days, you’ll be managing the work of origination in 60 days, and you’ll have more insights into your commercial lending operation within 90 days. It is a gift for simplifying...Happy Holidays to all! #commerciallending #banks #bankingindustry #creditunions  

It's finally Friday and we're over here hoping for an early spring! 🌷 Our next employee spotlight is on Aminda Rodgers, one of our talented and humble Loan Processing Reps. She has been a part of our bank family for over 4 years, starting as a Teller/CSR and later moving to our Loan Department in 2022. Here's a little bit about Aminda. 1. In your opinion, what makes MBTC unique? I think one thing that makes MBTC particularly unique is that rather than having a "one size fits all" approach to lending, we recognize that life is unpredictable and circumstances are situational. Because of this, we make it a mission to do our very best to be flexible in tailoring loans to each customers’ specific needs, creating an environment that makes a customer’s overall experience with us more personal and genuine. 2. What do you enjoy most about your job? I’ve been blessed to be a part of a really great cohesive team and I genuinely appreciate the overall environment in our department. You spend the majority of your life around the people you work with and that can easily make or break your attitude towards your job. I’m thankful to work with a dedicated group of individuals that know and understand the balance of hard work, while also being able to find ways to enjoy work life and build positive team morale.   3. What is one thing on your bucket list? I think if you were to ask the people closest to me, they would say that I’m always off chasing some kind of adventure. I love to experience new things and I tend to live life from a perspective of wanting to give almost everything a try at least once. That being said, I have endless bucket list items but I think one of the biggest would be to skydive. Because who doesn’t want to jump out of a plane and plummet thousands of feet to the ground just for fun – with a parachute of course. (Shhh, don’t tell my momma about this one...) 4. What is a fun fact about you? When I was 12, my best friend and I would have yard sales to make extra cash. One day, Michael Douglass pulled into the driveway to ask for directions. We had no clue who he was until after he had left and my friend’s mom informed us who he was. We didn’t care - were just disappointed that he wasn’t interested in buying our hot pink Barbie Dream House! Shoutout to Aminda for being an incredible asset to our team! We're so grateful for everything she brings to the table.

A Glimpse into the Car Title Loan Industry & LoanMart Today, a burgeoning ecosystem of technological solutions enables car title loan lenders to revolutionize every aspect of the loan process, from customer acquisition to collections, through digital means. These innovative tools and services allow lenders to streamline the traditionally cumbersome processes of applying, underwriting, collateral evaluation, funding, and collections, thus significantly enhancing efficiency and customer satisfaction. These digital platforms have fundamentally changed the landscape for car title loan lenders. [Yeah, yeah! Many of my colleagues tell me that online car title loan lending is HARD!]