Process - Phase Three

A manager will be on site as needed during the first week of originations working closely with the originations staff to ensure all practices previously trained are being properly followed and assisting with on-the-job training where and when needed. The manager will also be on site the fourth week after the first week of funding to work with the collector to implement necessary collection strategies previously trained.

 

During the first month of originations, a manager will hold regularly scheduled weekly meetings and thereafter monthly meetings with:

 

Consumer Lending Employees

  • To ensure consistent implementation of underwriting policies and procedures.
  • To facilitate the rapid and appropriate resolution of issues. 
  • To address service trends and issues, and resolve specific issues. 
  • To integrate production strategies.
  • To create a feedback loop between consumer lending and risk management regarding dealers, underwriting, funding issues and service. 
  • To review trends from prior week, month or quarter.

Collections & Customer Service Employees

  • To ensure consistent collection messages are being delivered                                  
  • To facilitate resolution of customer service related issues 
  • To integrate new collection strategies 
  • To create a feedback loop between consumer lending, risk management and loan servicing to address first payment defaults and dealer related issues 
  • To review trends from prior week, month or quarter performance

Risk Management

  • To review loan originations application activity data
  • To discuss credit trends from prior week, month or quarter
  • To implement necessary changes to underwriting criteria 
  • To review dealer fraud issues
  • To review first payment defaults 
  • To review 30, 60, 90 day delinquency trends
  • To review static pool analysis

 

 

In addition a CU Lending Solutions executive manager will have a monthly telephone meeting with your management team and semi-annually an on site meeting to discuss progress of assignment

and address any areas of concern.

 

 
Copyright 2007 CU Lending Solutions