One of the struggles that many smaller lenders encounter is being able to afford top talent before they have started to generate the volume that pays for that talent. Another issue they face is that smaller banks aren’t conducive to training junior staff as it becomes time consuming for the senior staff who would otherwise be producing. In large National Banks, there are multiple people who can be that type of resource, but in Regional and Community Banks they can’t afford that type of staff because of the overhead costs. As a result, they either need to hire the most expensive seasoned underwriters or they face an increased risk of incurring losses down the road by relying on more junior underwriters. While there are some industry courses to train junior staff, they tend to be very general or there is no one to explain how it applies to their specific systems.
Summit Loan Consultants was created to help fill those gaps in our industry by making top underwriting talent accessible as well as sharing those skills to help banks become more efficient and profitable.
-Krista M. Renga
