CU*Answers has released several new lending tools that improve the processes for Escrow Analysis, Loan-to-Value Calculations, Collateral Re-Pricing and Packaging Loans to be Sold. These new tools will allow credit union lending teams time to lend, rather than spending time performing job tasks.

Credit unions can now process escrow analysis for multiple escrow categories in one process. This feature will ease the work in providing escrow analysis to members, by allowing multiple filters in one screen. Loan-to-Value calculations can now be processed by the loan disbursement limit for Line of Credit lending, can now include a total of multiple collateral items securing one loan and will display on any collateral related screen. There is now an automated way to re-price collateral that can change in value and update the secured amount for the loan. To evaluate concentration risk or to prepare a segment of your loan portfolio for sale, we now can include the same loan in multiple packages, packages can be combined and associated reports have more information.

Barb Cooper, Project Services manager states: “We are happy to enhance these lending tools to help credit unions spend their time getting loans, rather than processing tasks for existing loans. Lending is one of the main reasons credit unions succeed in serving their memberships.”