Msr Case

The main focus of this week has been loans. Since becoming a MSR I have had to learn all of the loan products in and out, this way I will be comfortable in conversation about each product. There is more to the loan process then just knowing and understanding the products, the other steps include processing the loan application, and disbursing the loan after it has been approved. The key is making sure everything is done properly so there is no exception made on the loan. An exception occurs when there is an error in the application or disbursement process. Branches are assessed on how many exceptions they receive monthly. I have found it much easier to do Platinum Visa applications, in comparison to other loans. This is because since staring in my new position I have dealt with this type of loan the most. I have noticed that we have seen an increase in Visa applications mostly due to the very low introductory rate we offer. A loan that I would say has given me the most trouble has been the HELOC this stands for Home Equity Line of Credit. This is mostly because many members that I have sat with so far that have been interested do not qualify for it. This is also a pretty difficult loan to cross sale, most times if the member is not coming in to inquire about it they are not interested. Other than the Visa Platinum I have found a good way to cross sale our CLC, which is our Convince Line of Credit. With this loan I urge members to look at this as a safety net. My manager has coached me to get the member to realize that most times when people need loans is when it is the hardest time for them to receive them. So with that in mind “I say why not get it not and don’t touch it until you really need it”. I have had pretty good success with this tactic so far. Those are just a few of the many loans that we offer, but as I discussed earlier one of the most important parts of the loan process is the disbursement. Loan disbursement seemed simple to me in the beginning, but realize how tricky it can be at times. This comes after the loan has been approved and the member has to come and sign the documents confirming that they will accept the loan. Here is when I got my first exception. My manager