soooo glad february is done.
this was my first month in the lending department, as opposed to the collections department.
1. we are growing our portfolio right now, and our goal was to put 225 loans on the books this month. we put 238 on. we rule! we signed a few new dealerships and got a bit creative about moving employment verifications through more quickly (you can't fund a loan until employment is verified, a person can't get their car until the loan is funded-- it slows everything down... some companies have policies that they have 3 day turn around on employment verification. annoying!), AND we're looking at new software to get ourselves more organized as far as keeping track of when we take an application, when we get the deal funded, etc.
2. I have a much more holistic view of the company now that I'm doing underwriting. doing collections, you're worried about maybe between now and friday. maybe the month at most. when doing underwriting, the small view is the term of the loan. the large view is the portfolio (the entire lent money of the company). it's pretty cool.
3. the outlook is much better. instead of spending 90% of my day listening to the phone ring only to leave the message over and over again, I'm reviewing credit reports to determine whether people will make good on voluntary debt. we're sub-prime lending, which I've actually come to feel pretty good about, too. we don't pull credit scores, which means that I actually READ credit reports, and our sell is that we want to improve bad credit. a lot of our good customers have some medical in collections, which would ordinarily just ruin their credit.
4. I also have a lot more freedom to determine what needs to be done and do it. I appreciate that.
5. my coworkers rock. I used to work with a lot of people who drank a lot (which is fine), had a lot of sex (which is also fine), and had little or no other depth. all of the other debauchery is fine, I guess, but it's not what I want to talk about or be around so it's annoying when it's all there is. my current peers are two really kickass old ladies and one very cool young woman. we pretty much all flirt with each other all the time, but we talk about family and knitting (mostly work, actually), but they are actually women of substance.
we all worked long hours so far this week. I'm exhausted. I'm going to sleep hard tonight. (yawn)
this was my first month in the lending department, as opposed to the collections department.
1. we are growing our portfolio right now, and our goal was to put 225 loans on the books this month. we put 238 on. we rule! we signed a few new dealerships and got a bit creative about moving employment verifications through more quickly (you can't fund a loan until employment is verified, a person can't get their car until the loan is funded-- it slows everything down... some companies have policies that they have 3 day turn around on employment verification. annoying!), AND we're looking at new software to get ourselves more organized as far as keeping track of when we take an application, when we get the deal funded, etc.
2. I have a much more holistic view of the company now that I'm doing underwriting. doing collections, you're worried about maybe between now and friday. maybe the month at most. when doing underwriting, the small view is the term of the loan. the large view is the portfolio (the entire lent money of the company). it's pretty cool.
3. the outlook is much better. instead of spending 90% of my day listening to the phone ring only to leave the message over and over again, I'm reviewing credit reports to determine whether people will make good on voluntary debt. we're sub-prime lending, which I've actually come to feel pretty good about, too. we don't pull credit scores, which means that I actually READ credit reports, and our sell is that we want to improve bad credit. a lot of our good customers have some medical in collections, which would ordinarily just ruin their credit.
4. I also have a lot more freedom to determine what needs to be done and do it. I appreciate that.
5. my coworkers rock. I used to work with a lot of people who drank a lot (which is fine), had a lot of sex (which is also fine), and had little or no other depth. all of the other debauchery is fine, I guess, but it's not what I want to talk about or be around so it's annoying when it's all there is. my current peers are two really kickass old ladies and one very cool young woman. we pretty much all flirt with each other all the time, but we talk about family and knitting (mostly work, actually), but they are actually women of substance.
we all worked long hours so far this week. I'm exhausted. I'm going to sleep hard tonight. (yawn)
VIEW 5 of 5 COMMENTS
What's this pen pals group?! Could be interesting!