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By CRIF Lending Solutions
It’s not too late to get a head start on your competition when it comes to kick-starting your loan portfolio through an indirect lending program. Indirect lending caught fire last year, and many industry experts don’t expect it to slow down any time soon.
A good indirect lending program is composed of three vital components: underwriting, processing, and dealer management. There are several tangible and intangible pieces as well as benefits of a successful indirect lending process, but the newest trend focuses on dealer management. If they haven’t already, credit unions across the country will be looking for innovative ways to streamline their dealer management operations and uncover new opportunities that otherwise weren’t available through their previous dealer management practices.
The right dealer management strategy serves as the lifeblood of your indirect lending program. Without it, the underwriting efficiency and processing speed of your operations are moot points. However, if you manage dealers effectively, it will put your underwriting and processing capabilities to the test.
Some tangible and intangible benefits of dealer management include:
Is your dealer management strategy poised to deliver the growth you need? The CRIF Select division of CRIF Lending Solutions offers the solutions and expertise to help financial institutions get a leg up by making sure they are well positioned to capitalize on the emerging trend of indirect lending. Click on the button below to download our "Top 10 Questions to Consider Before Starting an Indirect Lending Program" checklist.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at email@example.com or 1-800-446-7453.
January 6, 2014
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