If you are looking to start or grow your Consumer Lending Portfolio, LSI is the partner to have. 

Availability. Flexibility. Efficiency. Service. The keys to being successful in the lending market today. It's a 24/7 world and financial institutions are the last ones to the party. With technology today customers expect to be able to apply the way they want to apply, when they want to apply. The financial institutions that are conducive to that are thriving and the ones that aren't, are getting acquired by the competition. Be that as it may, how do you do all of this with limited resources or uncertainty of what kind of volume you will receive? 300 financial institutions all use LSI in different capacities and different ways, making their unique operation as efficient as possible.

Loan-by-Phone

LSI's flagship product has been helping financial institutions grow for 20 years. Highly-trained lending professionals transparently represent the bank to originate loans and cross sell other products. For over two decades, FI's have empowered LSI to make loan decisions. Customers that are approved can be told over the same phone call so the borrower is immediately taken "off the market" - maximizing the bank's funding ratio. The deal is worth nothing if it doesn't close. So why not use LSI's variable based pricing for origination and underwriting and allocate the bank's best employees in closer roles to maximize funding opportunity and efficiency? This has been the strategy of LSI's loyal partners for years!

Highlights: 

  • Agents trained min. 10 weeks before taking an app
  • Bank can utilize overflow and/or after-hour capacity
  • Interface Integration for delivery directly into system
  • Disaster recovery/business continuity program
  • Online reporting center for daily tracking

Internet Underwriting

The internet channel can be an inexpensive way to get into the consumer game, but it takes the right application and the right partner. LSI has an application that it can host for the bank and integrate with many 3rd party platforms. The commonly known downside of the internet lending is the approval ratios and funding ratios are lower than other channels. LSI's application and 24/7 human support enhances those ratios significantly. The LSI application provides the applicant an option to talk to someone at the end of the credit request. Being able to fix mistakes, add a co-borrower, check for other assets and income streams, our FI partners see their approval and funding ratios increase by an average of 15%. 

Indirect Underwriting

LSI knows the car dealers, first lender back usually gets the loan! Look at your current process, what happens if an underwriter (or two) calls in sick? Are you open as late as the dealerships are sending applications? What about weekends? These are all reasons financial institutions use LSI's underwriting support. LSI underwriters are staffed around the clock for the applications that require non-automated decisions. 

Highlights:

  • Online or fax submission of indirect auto-loan apps
  • Automated underwriting for instant approvals
  • 24/7 availability to manually underwrite applications
  • Immediate communication with dealers
  • Work with 3rd party lending platforms such as: APPRO, CRIF, CUDL 3, DealerTrack, Decision App, DILLS, FLS, TCI, Velocity.
 

How Loan-by-Phone works...

 

Highlights:

  • Underwriters available 24/7 to decision apps in minutes
  • Instant automated decisioning and integrated scoring-model system compatible with CCN, DFS, FairIsaac, Experian, and customized platforms. 
  • Mobile and Spanish Applications available.
 

How Indirect Underwriting Support works...