Loan Consulting Services
We understand that the loan side of the house can get complex fast. Our loan consulting team has years of experience working directly for Fiserv. Additionally we have over 15,000 hours of time spent within the walls of community banks like yours, all across the country. We specialize in getting the core system working for you by designing the system specifically for your bank. Our clients typically start with our Loan Core Optimization Engagement, but we love taking on specific projects like Escrow Automation, Shadow Loan Accounting Automation, or Conversion Advisory Services. See below for more details.
Loan Core Optimization
This is one of our most popular engagements and for good reason! We look into your specifications and loan processes to explore process improvements and efficiency gains. Who wouldn’t love that? We provide insight from years of working with banks across the country. Now, just because it worked for everyone else doesn’t always mean it’s best for you given your institution, staff, and customers but it’s probably worth discussing. Let Peak consultants unlock those enhancements you’ve been dreaming of and evaluate your system configuration for maximum productivity. Optionally, we can provide a detailed summary of findings with a roadmap of where we think you should focus your energy. Who knows, maybe we’ll help work be a little more fun?
Escrow Automation
Escrow is not the enemy! Banks tend to avoid escrow at every turn or end up paying third party providers a small fortune to process loans with escrow. In reality many of the day to day escrow tasks can be automated by the system and as an added bonus you already pay for most of it with your core contract. PEAK consultants specialize in automating escrow processes from A to Z. We bring experience working with major tax servicing companies like LERETA, CoreLogic, and InfoPro to make life even easier. Let PEAK design a system that allows you to offer customers a wider range of products without adding to your bottom-line.
Shadow Loan Accounting
Shadow Loan Accounting can be a complex and intimidating process. However, automation and accounting around Shadow Loan Accounting is a specialty of Peak consultants. They have worked with hundreds of banks implementing best practice efficiencies and procedures. Automation around Shadow Loan Accounting may present one of the largest efficiency gains for banks not to mention the increased revenue potentials. Peak consultants can easily guide you through the implementation process and help you build out procedures.
Collateral Restructuring Management
I’m sure you can resonate with the pains associated with cross-collateralization and inaccurate LTVs. In the past, miscellaneous addenda and flex fields were the Band-Aids. With new functionality from the core, banks can have much better processes around collateral management; but they need to understand the ins and outs of how to capitalize on the new benefits. Peak consultants have worked with banks to properly leverage this functionality, clean up duplicate collateral, and can help you strategize an implementation plan. From training on the new functionality, to discussions around Asset Based Lending, and other collateral considerations, Peak consultants are eager to help. We actually enjoy this stuff!
Loan Best Practice Engagements
This is one of our most popular engagements and for good reason! We look into your specifications and loan processes to explore process improvements and efficiency gains. Who wouldn’t love that? We provide insight from years of working with banks across the country. Now, just because it worked for everyone else doesn’t always mean it’s best for you given your institution, staff, and customers but it’s probably worth discussing. Let Peak consultants unlock those enhancements you’ve been dreaming of and evaluate your system configuration for maximum productivity. Optionally, we can provide a detailed summary of findings with a roadmap of where we think you should focus your energy. Who knows, maybe we’ll help work be a little more fun?
Specification Reviews
When was the last time you went through your specifications? Maybe at your last conversion? We find that to be the case with many of the institutions we work with. This is probably one of the areas we find the most efficiency opportunities. Whether you need training for newer staff or are ready to dig in and finally have the system start working for you, we’re here to help.
SBA Loan Processing
SBA reporting can be a laborious process. However, there are solutions for automating 1502 generation, electronic file generation for sending 1502 information to Colson, and tracking exceptions on Sold loans. Whether your portfolio has Sold loans, Un-Sold loans, or both, Let Peak Consulting help you develop a solution that will allow you to focus on loan generation instead of concerns around reporting.
OREO Asset Management and Tracking
Many people are not aware that OREO assets can be managed and tracked within the LAS core system. Instead of purchasing third party software we can help you leverage the core system you already own. Beyond that, once everything is in the core you can take advantage of things like security, reporting, and anything else you use on your core system. Now that sounds better than having to learn a whole new system doesn’t it? We think so too and we’ve worked with dozens of banks on OREO asset management so we can offer some recommendations as well.
Charge-Off and Non-Accrual Processing
The days of putting charged off loans back in the dark dusty closet are behind us. Charge Off/Non-Accrual Processing has become quite the hot button issue with examiners and auditors all over the country. Banks tend to hang on to old processes that cost money in the form of lowered yields due to posting only principal payments, incorrect reporting, and inefficiency causing multiple people to be tied up on bad loans. Now the good news, you have the ability to automate most of the processing from the day a note goes into non-accrual to the very common scenario of the customer winning the lottery and running to the bank to pay for all their bad debt. Peak consultants specialize in non-accrual processing and can guide you through not only best practice setup but also work with everyone from loan operations to the CFO to ensure the process meets everyone’s needs.
Revenue Enhancements
Many banks have a tremendous opportunity to implement automation around revenue generating processes. Often we find many revenue opportunities are already included in current loan documentation but the collection is poorly executed. Peak consultants will help you automate payoff charges, unused credit charges, late charges, interest income and non-interest income. You can be sure of the fact that we will only recommend enhancements that work well with your current loan accounting platform.
Credit Bureau Reporting
Peak consultants have worked with training and best practices around credit bureau reporting for years. Let us help you validate your current loan portfolio for proper coding and develop best practice procedures for future coding. In addition, we can provide staff training around coding your loans and how to properly account for bankruptcy and other delinquent loan scenarios. We also assist with post conversion clean-up and help you correct in regards to credit bureau reporting errors. Then you won’t need to spend so much time with that Oscar guy!
Note Exceptions Best Practices
Often banks will find they do not have a solid plan in place to identify loan issues before they become customer impacting. Let PEAK consultants help you cleanse your current portfolio as well as put daily processes in place.
Loan Custodial Module (LCM) Review and Implementation
When you move into the world of secondary market loans, volume is key. LCM provides a platform to move funds between the general ledger system to a federally insured deposit account. The module can look like a maze of T accounts and reports when you get started. PEAK consultants take you through the initial setup and stay with you for the reporting process as well. PEAK will ensure staff members have a good understanding on what to do when everything is running smoothly as well as how to navigate back through if something is off.
Master Agreement Review and Implementation
Many banks have been curious about Master Agreements for some time but don’t fully understand the potential or the pros and cons. PEAK consultants can facilitate discussion, training, and help you best take advantage of the enhancements associated with the new release. The ability to transfer existing loans into the Master Agreement world is a great enhancement but there’s more to unlocking the full functionality. Whether you are new to Master Agreements or would like to maximize their use in the complex commercial world, PEAK can help!