Course Number: Self-Study
Course Code: BAN 1240
The Consumer Lending course is ACE recommended for College Credit Transfer!
In this comprehensive overview of the consumer lending business, participants learn the essentials about closed-end loans, indirect loans and related credit products, and open-end credit products. They also trace the consumer lending process from developing and taking loan applications to collection and recovery. After successfully completing the consumer lending course, you will be able to: describe key laws or regulations affecting consumer lending; list characteristics, benefits, and disadvantages of direct lending, indirect lending, and open-end credit products; explain how effective marketing can increase loans outstanding and application volume; describe consumer loan information sources and the credit verification process; explain how the five C’s of credit are used in credit evaluation and decision making.
Textbook chapter topics include:
- Introduction to Consumer Loans
- Laws and Regulations Affecting Consumer Loans
- Applying for a Consumer Loan
- Loan Underwriting
- Establishing and Perfecting Security Interest
- Document Preparation and Loan Closing
- Servicing Consumer Loans
- Loan Collections and Consumer Bankruptcy
Audience: Designed for entry-level consumer lenders, consumer credit personnel, and bank and credit union employees who need to understand consumer credit.