We recently had a chance to catch up with many of our clients and ask how things are going. Here is what we are hearing…does it ring true for you?
- Cutting back on the travel budget for out-of-town training.
- (Oooh! Maybe my Lender’s Online Library is just in time!)
- Hiring freeze
- Regulators are looking closer at documentation
- Less reliance on credit scores and more on credit analysis
- Shifting lenders within the company to lending areas that are picking up
- Opportunities now that some of the shadier mortgage lending options are drying up
Training on credit analysis is even more important when things are tight. Making the right decision is not as easy. And any clients you have who are doing well are likely going to be pursued by other bankers.
As I write this post, the tutorials on Lenders Online Library are still free. And even when we start charging, the cost will be much less than ‘going to class’. Online tutorials may be a great alternative or addition to the usual options.
Time to batten down the hatches, tighten the relationships with your current borrowers, seek opportunities, and pay more attention to the loans on the books.
Do you agree?