Abrigo

AUGUST 29, 2022

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Takeaway 1 Optimize the signature collection process. Lending & Credit Risk. How to implement consistent credit risk pricing.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections 78

Abrigo

JULY 5, 2020

Key Takeaways Credit unions participating in the Paycheck Protection Program (PPP) found that the right technology helped them serve business members when they needed help and also gain new members. Technology can facilitate delivery on credit unions' brand promise of relationship-based services.

Credit Unions 78

Credit Unions Credit and Collections Credit Risk Small Businesses 78

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

Credit Unions 78

Credit Unions CECL Credit Risk Credit and Collections 78

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. 2020 Interagency Guidance.

Credit Risk 78

Credit Risk Credit Unions CECL Credit and Collections 78

Abrigo

SEPTEMBER 25, 2024

Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing. Credit unions only make 2.4%. But both banks and credit unions have substantially increased their lending activity through 7(a) since 2020. SBA-backed loans What is E-Tran?

Credit Unions 151

Credit Unions Credit Risk Credit and Collections Small Businesses 151

Abrigo

JULY 20, 2021

In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA lending this year and beyond. Offering SBA lending at the institution is a good way to “get in the door” with good credits. 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

FEBRUARY 21, 2025

Making the most of data developed for CECL See how banks, credit unions, and other financial institutions can leverage data developed and used for the CECL model for stress testing and strategic insight. But they also offer insights to credit teams who are generally not even involved in CECL calculations.

CECL 78

CECL Credit and Collections Credit Unions Default 78

Abrigo

JULY 20, 2021

In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA loan origination this year and beyond. Offering SBA lending at the institution is a good way to “get in the door” with good credits. 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections CECL 135

Abrigo

JUNE 3, 2016

The Financial Accounting Standards Board’s (FASB) long-awaited final guidance on its new standard for measuring expected credit losses is expected to be released in June, a step that will be a major milestone in the multi-year development of the current expected credit loss (CECL) model. 15, 2020, based on the FASB’s latest decisions.

Credit Unions 68

Credit Unions CECL Credit and Collections Accounting Firms 68

Abrigo

FEBRUARY 12, 2025

Banks & credit unions use technology to solve challenges AI today is the result of decades of research and development. Financial institutions have embraced advances in data-driven decision-making , using them to improve credit assessment, fraud prevention, and financial inclusion.

Credit and Collections 88

Credit and Collections Credit Reporting Agencies Credit Unions Credit Risk 88

Abrigo

DECEMBER 27, 2022

Or they claim their targets have won a foreign lottery or sweepstake, which they can collect for a "fee." Lending & Credit Risk. Portfolio Risk & CECL. The post 2023 Fraud trends: What banks and credit unions can expect appeared first on Abrigo. Update and adjust. Reassessing procedures for 2023.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

NOVEMBER 17, 2023

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. You might also like this on-demand webinar on the red flags of emerging CRE risk. At many banks and credit unions, the way lenders and underwriters have handled loans is basically unchanged from decades ago.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Bring together the deal team, credit approvers, and workout experts to discuss and determine the grade and next steps.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

RMAi Blog

APRIL 13, 2023

Credit cards and debit cards can be confusing. Credit cards allow you to use other people’s money while debit cards only let you spend your own money. How a Credit Card Works: Before you can get a credit card, you will have to complete a credit application. When you use a credit card, you pay the bill later.

Credit and Collections 130

Credit and Collections Credit Unions Deductions Credit Application 130

Abrigo

MAY 14, 2021

The Paycheck Protection Program’s (PPP) rollout and associated changes, then the next tranche of PPP, and the next, and now forgiveness (not to mention bankers’ work with some existing business borrowers to modify loans under government programs), have kept staff at banks and credit unions swamped for more than a year. read the story.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections 78

Abrigo

SEPTEMBER 29, 2022

Essential technology for modern lending and credit departments. Learn more about what they are and how they help banks and credit unions gain needed efficiency in the loan administration process. The software also regularly provides detailed reports about project status, which helps keep track of payments and collections.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Transactions 78

Abrigo

AUGUST 30, 2022

Expanding the commercial loan portfolio in today's market With the right strategies, banks and credit unions can expand their commercial loan portfolios successfully. Takeaway 3 Risk mitigation is essential to understanding the impact of lines of credit on profitability and allowance. Risk management. Listen now.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems. Read more for specific objectives every loan review system should meet.

Credit Risk 78

Credit Risk Credit Unions Credit and Collections Small Businesses 78

Abrigo

SEPTEMBER 24, 2015

The Financial Accounting Standard Board’s proposed move to the current expected credit loss, or CECL, is top of mind for many of the bankers and industry experts attending the 2015 Risk Management Summit presented by Sageworks. Involving people from the financial institution’s credit department will be key, he added.

CECL 84

CECL Credit Unions Credit and Collections Credit Risk 84

Abrigo

JANUARY 11, 2022

Takeaway 1 ALM in banking means managing the cash flows of assets and liabilities to increase profitability, manage risk, and maintain safety and soundness. . Takeaway 2 Rather than helping financial institutions avoid risk entirely, ALM helps ensure a bank or credit union's risk exposures represent levels in line with policy limits. .

Credit Unions 78

Credit Unions Credit and Collections Credit Risk Default 78

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

MARCH 14, 2024

You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones. Follow this guide for strategies to stay competitive. Read the buyer's guide to lending solutions.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

AUGUST 28, 2019

Ask the staff of banks and credit unions about the loan application, underwriting, and onboarding processes at their respective institutions, and you’ll likely hear some complaints from them, too. A look at the steps of an institution relying on manual processes and an institution utilizing technology sheds light.

Credit Unions 60

Credit Unions Credit and Collections Credit Risk Credit Scoring 60

Fundera

SEPTEMBER 18, 2018

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. There are five notable components of a personal credit score.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

Abrigo

AUGUST 28, 2022

Takeaway 3 Better ag lending workflows streamline document collection and management and increase credit analysis accuracy. . A better ag lending process that makes applying smoother for borrowers can also mean a more efficient workflow for bank or credit union staff. Streamline document collection and management.

Credit and Collections 78

Credit and Collections Credit Unions Credit Risk 78

Abrigo

JULY 28, 2021

Community financial institutions required to complete the current expected credit loss (CECL) standard implementation by 2023 are undoubtedly busy managing record-low net interest margins, pandemic-related uncertainties, and operational issues, as well as their own strategic initiatives. “At Start Now’. Incurred to Expected.

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

Abrigo

DECEMBER 14, 2023

King outlined the following best practices for developing and refreshing your strategic plan and encouraged banks and credit unions to make them an integral part of board meetings. It’s essential to involve your board and executive management in pre-planning steps to ensure everyone’s input is collected and heard.

Credit Risk 88

Credit Risk Dashboards Credit and Collections CECL 88

Abrigo

NOVEMBER 13, 2015

Improving policies and procedures starts with asking for and collecting the right data to fully understand a borrower. Banks, in particular, community banks, have often relied on a borrower’s character, one of the 5 Cs of Credit , to make lending decisions.

Credit and Collections 68

Credit and Collections Credit Risk Credit Unions 68

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. This is especially true in higher interest rate environments, when lenders pull back on credit (like now). For instance, you may choose to improve your credit score at this stage before you start your loan applications.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

Abrigo

JULY 30, 2019

Why is writing effective credit memos so vexing? Given that a credit memorandum is one of the most critical documents in the life of the loan, it would seem like a straightforward process. However, lenders, credit analysts, and other banking staff frequently seek tips for writing better credit memos.

Credit Risk 60

Credit Risk Credit and Collections CECL Credit Unions 60

Abrigo

JUNE 23, 2023

You might also like this on-demand webinar on the new CFPB small business data collection rule Watch Takeaway 1 Banks and credit unions often face challenges implementing data warehouses and are not pleased with the result. Stay up to date on the CFPB 1071 data collection rule and other lending compliance topics.

Credit and Collections 78

Credit and Collections Credit Risk Credit Unions Dashboards 78

Abrigo

JANUARY 27, 2022

Takeaway 2 If the market trends downward for long, banks and credit unions could actually see another increase in deposits. The Federal Reserve’s signal this week that it will start raising interest rates in March 2022 generated a collective high-five throughout the banking industry. Lending & Credit Risk.

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78

Abrigo

NOVEMBER 9, 2022

Takeaway 1 10% of banks and credit unions have completed CECL adoption, according to Abrigo's CECL implementation survey. With just weeks left to complete CECL implementation, how are banks and credit unions doing? What are their biggest challenges with the current expected credit loss model?

CECL 78

CECL Credit Unions Credit and Collections Credit Risk 78

Abrigo

OCTOBER 11, 2016

As discussed in a previous post, many banks and credit unions are turning to loan portfolio growth as the way forward. Very often, banks and credit unions will pass on loan applications that don’t appear to quite meet their underwriting criteria.

Credit Unions 60

Credit Unions Credit and Collections Credit Risk Small Businesses 60

Abrigo

MARCH 21, 2023

WATCH Takeaway 1 Earning more income and mitigating interest rate risk isn’t as simple as charging higher rates on loans and earning higher rates on the investment portfolio. Takeaway 2 Some banks and credit unions were late movers and are now scrambling to lock in funding for the short term to meet liquidity and capital needs.

Credit Unions 78

Credit Unions CECL Credit and Collections Credit Risk 78