All in a single system, our retail products let you collaborate with customers, automate your workflows, and keep your pipeline moving at digital speed. Our comprehensive LOS wrangles every step of every loan, powerful CRM tools turn leads into borrowers, and mobile interfaces let you get the job done, no matter where you are.
Mortgage loans are made through both retail and wholesale channels. A retail loan comes from a lender that handles the whole process in-house. Wholesale loans are typically processed through brokers. The lender handles the nuts and bolts of the loan, while the broker works with you and prepares your application for approval.
The LDR is subject to quarterly review. The apex bank, in the Circular to the banks, explained that Small and Medium Enterprises, SMEs, retail, mortgage and consumer lending, would be assigned a.
Because retail mortgages are aimed at individuals and lending officers who work with people in a one-on-one relationship, retail mortgages can often be customized, especially if customer credit is problematic. Retail mortgage branches can also offer specific products, such as turnkey mortgage arrangements and automated underwriting arranged through corporate offices.
Mortgage lending will also take into account the (perceived) riskiness of the mortgage loan, that is, the likelihood that the funds will be repaid (usually considered a function of the creditworthiness of the borrower); that if they are not repaid, the lender will be able to foreclose on the real estate assets; and the financial, interest rate.
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Retail lending is defined as closed- and open-end credit extended to individuals for household, family, and other personal expenditures. This includes consumer loans, credit cards, auto loans, student loans, and loans to individuals secured by their personal residences, including first mortgage, home equity, and home improvement loans.
CBN said in the letter to the banks that the new LDR would be subject to quarterly review. “To encourage SMEs, retail, mortgage and consumer lending, these sectors shall be assigned a weight of 150.
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