Increasing Loans Sales

• Are you interested in increasing loan sales production and closure rates while maintaining or lowering the cost per loan?

• Are your loan costs above the Industry benchmarks due to a dependence on paper based processes or manual non-integrated processes? 

• Are loan file management issues making causing your service levels to be sub par?

• Have you leveraged the investments in enterprise content management and business process management across the entire loan life cycle, from production to servicing?  Time consuming paper and manual intensive processes combined with front end loan origination systems that do not integrate with back end loan service systems can result in loss of process control and poor loan data integrity. Lenders need to streamline, automate and control the lending processes and information across all lines of business – Consumer, Commercial, Mortgage, Credit Card – to address compliance and regulatory issues, improve the customers’ experience and maintain a competitive edge. While many loan origination solutions are tailored only for a specific LOB, customer, product and/or channel, IBM ECM solutions help you incorporate enterprise wide business process management to effectively streamline, automate, control and accelerate business processes to address every step in the entire loan origination and loan servicing processes. IBM loan processing solutions drive great value for our Financial Service customers by leveraging a complete SOA based Enterprise Content Management (ECM) and Business Process Management (BPM) framework implemented in conjunction with existing legacy software applications. Each automate process improves overall productivity

and cost efficiency on an ongoing basis and enables sharing of content across Lines of Business whenever

it is required. Features & Benefits IBM ECM and IBM BPM Solutions IBM can help lenders replace pap rbased lending processes with digital processing, enabling the lenders to dynamically respond to market changes and scale operations better around a volatile interest rate environment. By leveraging IBM ECM and BPM solutions, Lenders can increase origination volume while flattening labor costs. Loan processing costs can be reduced and information currently locked away in disparate line of business silos can be integrated and accessed when ever needed during the entire life time of the loan. Plus, record keeping can be automated for consistent compliance with regulations and corporate governance. 

PLUS loans

PLUS Loans are loans parents can obtain for their dependent undergraduate children. These loans are made through either the Direct Loan or FFEL programs mentioned above. 

• Consolidation Loans (Direct or FFEL) allow you (or your parents, if they have a PLUS Loan) to combine

several types of federal student loans into one loan with one monthly payment How do I apply for a Perkins or Stafford Loan? As with all federal student financial aid, you apply for a Perkins or Stafford Loan by completing the FAFSA. A separate loan application is not required. However, you’ll need to sign a promissory note,* which is a binding legal contract that says you agree to repay your loan according to the terms of the promissory note.* Read this note carefully before signing it and save a copy for your records. How much can I borrow? Perkins Loans The Student Loan Comparison Chart shows the maximum Perkins Loan funds you can receive, depending on whether you’re an undergraduate, graduate or professional student. However, the amount you can borrow might be less than the maximum available.

• Each school participating in the Federal Perkins Loan program receives a certain amount of Perkins funds each year from the U.S. Department of Education. 

• When all available funds for that award year have been distributed, no more awards can be made for that year.

• Submit your FAFSA early so you can be considered for these funds. Stafford Loans (Direct and FFEL) The chart, Maximum Annual Loan Limits Chart—Subsidized and Unsubsidized Direct and FFEL (Federal) Stafford Loans, shows that your loan limits depend on: 

• Whether you receive subsidized or unsubsidized Stafford Loans.

• What year you are in school.

• Whether you are a dependent student Subsidized Stafford Loan:

• Available to students who demonstrate financial need.

• Eligible students can borrow a subsidized FFEL or Direct Loan to cover some or all of their need.

• For a subsidized loan, the U.S. Department of Education pays the interest:

• While you’re in school at least half-time.*

• For the first six months after you leave school.

• During a period of deferment (a postponement of loan payments).

The amount of your subsidized loan cannot exceed your financial need.