Abrigo

SEPTEMBER 13, 2017

In the recent Sageworks webinar “Actionable Steps to Prepare for CECL Today,” Neekis Hammond and Jared Mills, advisory services consultants at Sageworks, discuss five actionable steps credit unions can take to prepare for the upcoming CECL regulation. That data may be important for migration and vintage techniques.”

Credit Unions 60

Credit Unions CECL Credit Scoring 60

Abrigo

NOVEMBER 17, 2023

Stop : Visiting multiple websites to record credit scores, conduct an OFAC check, perform ID verification, and satisfy other nonfinancial qualifications required for good loan decisions. Review everything from one system.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Abrigo

MAY 10, 2021

This credit risk analysis should incorporate custom metrics for the financial institution, real-time credit scores imported, as well as a global debt-service coverage ratio when necessary. Lending & Credit Risk. Portfolio Risk & CECL. Lending & Credit Risk. Learn More. Asset/Liability.

CECL 78

CECL Credit Risk Credit Scoring 78

Abrigo

APRIL 22, 2024

The personal underwriting process is largely paper-intensive and manual, often done with the aid of [E]xcel spreadsheets, and there is a reliance on personal credit scores, particularly in the larger banks. The response times are slow, often several weeks and even months until borrowers are approved or denied.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Biz2X

SEPTEMBER 3, 2024

Because of economic volatility that has roots as far back as the pandemic, defaults have increased in likelihood, and as a response, lenders require more collateral and higher credit scores from applicants before offering loans.

CECL 40

CECL Credit and Collections Default Credit Scoring 40

Abrigo

MAY 22, 2024

The personal underwriting process is largely paper-intensive and manual, often done with the aid of [E]xcel spreadsheets, and there is a reliance on personal credit scores, particularly in the larger banks. The response times are slow, often several weeks and even months until borrowers are approved or denied.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Pactola

JULY 20, 2020

Since lawmakers do not want delayed payments to impact credit scores, Congress mandated that people current on their payments prior to the outbreak should still be reported as current on their payments when they are in a hardship program. This has the impact of moving credit scores higher at a time when payments are not being made.

Default 40

Default Law Firms Credit Scoring Credit and Collections 40