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Greater Hudson Bank, Sageworks Partner on Online Lending Platform

October 12 – Sageworks, a financial information company that provides lending, credit risk and portfolio risk solutions to banks and credit unions, announced that it’s partnering with Greater Hudson Bank, headquartered in Bardonia, N.Y., to provide an online loan application allowing commercial borrowers to complete applications electronically.


Lessons Learned From CFPB/DOJ Fair-Lending Action

By Craig Nazzaro

On June 29, the Consumer Financial Protection Bureau and the Department of Justice demonstrated their continued emphasis on fair lending with the announcement of a joint action against BancorpSouth for discriminatory mortgage lending practices. The parties’ consent order, pending court approval, would require BancorpSouth to pay $10.6 million. Industry participants should note three key aspects of this enforcement action: (1) the effect of BancorpSouth’s response to the investigation on the settlement; (2) the CFPB’s use of “testers;” and (3) the CFPB’s continued focus on fair-lending issues.


U.S. Bank Increases SBA Lending 7.9 Percent to 838 Million Dollars in FY 2016

October 10 – U.S. Bank ended the 2016 Small Business Administration (SBA) fiscal year on Sept. 30 with $838 million in SBA loan volume, an increase of 7.9 percent compared to fiscal 2015. The fifth-largest bank in the country, U.S. Bank maintained its rank as the third-largest SBA lender by volume and fourth-largest lender by units, with 3,285 total loan commitments.


USDA and Bank of America Partner to Launch Community Facilities Relending Program to Assist Impoverished Neighborhoods

October 10 – The United States Department of Agriculture (USDA) and Bank of America have announced a relending program to provide more than $400 million in long-term, low-cost financing for community development financial institutions (CDFIs) working in impoverished rural and Native American communities. The Uplift America Community Facilities Relending Program will facilitate the construction of schools, health care centers, child care facilities and other much-needed services in communities with limited infrastructure development and persistent poverty.


HPD Software Rolls Out Lending Solution to Community Banks

October 6 – HPD Software, the technology specialist for finance providers, which recently launched a cloud-based version of its premier asset based lending solution – ABLE, is now beginning to roll the system out to regional and community banks.


CFPB Updates Exam Procedures for Military Lending Act Rules

October 3 – Consumer Financial Protection Bureau has updated exam procedures that its examiners will use in identifying consumer harm and risks related to the Military Lending Act rule. These exam procedures provide guidance to industry on what the CFPB will be looking for during reviews covering the amended regulation. (more…)

Fed Survey: Small-Business Lending, M&A Activity, Regulatory Matters Top Bankers’ Concerns

October 3 – National survey findings revealing community bankers’ top concerns were presented at the fourth annual Community Banking in the 21st Century Research and Policy Conference last week (Sept. 28-29) at the Federal Reserve Bank of St. Louis. (more…)

FDIC Proposes New Guidance Over Marketplace Lending

August 9 – FDIC has proposed updates to its guidance regarding third-party lending. At least one industry observer is calling the proposals more “hurdles for bank partners of marketplace lenders.” (more…)

2016 ISA Entry – The Commercial Lending Center™ from ProfitStars®

The Commercial Lending Center makes it easy for financial institutions (FIs) of all sizes to accept commercial loan requests online, 24/7, with a superior workflow process and faster response times. ProfitStars hosts the online process, which is individually branded for the institution and accessible from their existing website.

With Commercial Lending Center, businesses can apply online anytime, anywhere and get to work with their local community bank. In turn, FIs can strengthen business relationships and grow loan portfolio both safely and confidently, while staying competitive in the online lending market.

The Commercial Lending Center offers financial institutions the following key benefits:

  • “Apply Now” or “Get Started” buttons along with the technology and support needed to provide a commercial lending website that’s accessible from any device.
  • Business customers submit their entire financial package in a secure manner and have visibility into the ratios that will determine their financial future.
  • A customizable sorting and filtering engine built to route each loan to the appropriate product and/or lender. Workflows are completely customized for your process.
  • Pipeline management gives senior management full vision into loans in the pipeline. All loan opportunities flow through the platform either via the web or manually through the lender side.
  • At any time, all authorized users can view a dashboard of the entire loan pipeline, including new originations and renewals. The pipeline may be sorted by lender, loan type, closing date, or loan status.
  • Marketing expertise, including customized materials along with best practices in social media, and search engine optimization provided through how-to guides that will assist you in driving loan business to your website.
  • For applicants who fail to meet a FIs predetermined underwriting guidelines, Commercial Lending Center allows the institution to automatically refer them to ProfitStars’ LendingNetwork®, a marketplace for viable, alternative loan options. The LendingNetwork offers financing from a group of more than 100 of the most dedicated, responsive alternative commercial providers in the industry, where borrowers find support through creative funding strategies while the FIs can continue to help the business grow without the risk of losing the overall relationship.


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dv01 Brings Transparency and Professional Portfolio Management to Marketplace Lending

June 29 – dv01, the analytics platform that brings transparency to lending markets, has announced the debut of its portfolio management software for marketplace loans. To date, institutional investors have used dv01’s cloud-hosted web application to gain real-time insight into $23.5 billion worth of marketplace loans.


Kryptronic Internet Software Solutions