Description
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 Cs of credit are used in credit evaluation and decision making.;
Topics include:
- Introduction to Consumer Loans
- Laws and Regulations Affecting Consumer Loans
- Interest
- 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
