Remove CECL Remove Credit Scoring Remove Information
article thumbnail

For faster loan origination, stop doing this

Abrigo

Instead : When borrowers use a digital loan request (available to them 24/7, from home, office, or even in the branch with FI assistance), current-customer information is automatically pulled into the form. The responsive loan application shows borrowers only those fields they need to complete, and the data flows through to later processes.

article thumbnail

The first step in a practical 2017-2018 credit union action plan – Build a CECL committee

Abrigo

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. Informed: Who is kept abreast of the decision/task? “The

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Basic Functions Should My Loan Origination System (LOS) Perform?

Abrigo

The ability to automatically pull into the loan application current-customer/member information to streamline the application process and avoid repeated data entry or keying errors by lenders. However, another important benefit is that the loan committee receives consistent, presentation-quality credit memos from loan to loan.

CECL 78
article thumbnail

The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Evaluating smaller loans is also complicated by how little public information exists about the performance of most small businesses and by the fact that many lack detailed balance sheets and other financial information often used by lenders in underwriting small business loans. Win more small business deals and grow market share.

article thumbnail

The math behind small business lending: Problems & possibilities for banks & credit unions

Abrigo

Evaluating smaller loans is also complicated by how little public information exists about the performance of most small businesses and by the fact that many lack detailed balance sheets and other financial information often used by lenders in underwriting small business loans. Win more small business deals and grow market share.