The HYLS Underwriting Guide (Existing HYLS users log-in here)
Gaining credibility as a trusted financial lender is only possible with the best tools to help members. Lending Solutions Consulting’s (LSCI) High Yield Lending Strategy (HYLS) is an automated, online underwriting guide that assists lenders to ask the right questions in order to approve a loan with greater precision and confidence.
HYLS requires lenders to obtain a multi-faceted member profile through the use of an in-depth interview, a thorough review of the application data, and an evaluation of the credit report to ensure a satisfactory decision. Using the questions within the platform, lenders can better understand a member’s financial situation, identify missed warning signs, and show positive factors on which to build a loan further. This process also incites greater lending safety for the lender and member making it the best tool of its kind in the industry.
SEEING BEYOND THE CREDIT SCORE
The immediate feedback from the HYLS Underwriting Guide allows loan officers to build more loans with greater confidence. Loan officers can conduct a better loan interview and produce a more accurate assessment of risk with the support of HYLS. HYLS helps loan officers make tough decisions more clear cut and, most importantly, it ensures members are not being turned down.
Our scoring model is different from any other as it considers 17 unique factors that traditional scoring models like FICO and VantageScore do not. Our model produces an average of 295k results per year, totalling roughly 1.7 million clicks to date.
THE HYLS SCORECARD SUMMARIZES
• Top positive and negative reasons to support your loan decision
• Potential bankruptcy indicators
• Loans that require additional work or collateral
INTEGRATING & LICENSING HYLS
LSCI will work with your credit union by integrating HYLS seamlessly into your current Loan Origination System (LOS). Benefits:
• Automated population of scorecard questions
• Save time by eliminating manual input of data
• The HYLS scorecard is integrated into your workflow
NEW INDIRECT LENDING FEATURE
As the economy changes, we continually update HYLS to make it faster and more user friendly. Rex has created a new feature - HYLS Indirect. This latest option adds focus to the purchase order along with the loan application and credit report. This will create more confidence in loans when we are depending on the dealer to gather the information. The positive and negative factors on the HYLS scorecard will assist lenders in identifying concerns or opportunities to build loans. If a current user of HYLS and would like to have this feature turned on, please email us at email@example.com for the request.
FITTING HYLS INTO YOUR BUDGET
We welcome all credit unions to take advantage of our 2-week FREE trial and see how easy it is to develop loans even further. We suggest putting turndowns, recently charged off loans, or bankrupt loans through HYLS, to see how The Guide may have saved your credit union from making a mistake or how a turndown could have turned into a loan.
Without minimums, set up fees, or maintenance fees, HYLS is affordable for both large and small credit unions alike. When HYLS saves a credit union one charged-off loan, it can easily pay for a year of HYLS!
$1 per scorecard - Rate for website members AND an LSI relationship
$1.25 per scorecard - Rate for website members OR an LSCI relationship
$1.50 per scorecard - Rate without a current LSCI relationship
INFORMATIONAL HYLS WEBINAR
To learn more about Rex Johnson's High Yield Lending Strategy Underwriting Guide, view the FREE webinar here. This webinar does not require a password. Click the play button and fill in the required contact info for the webinar to begin playing.
EXPERIENCE HYLS FREE FOR 2 WEEKS
Click on the 'HYLS Underwriting Guide Calculator' in the lower left hand corner of our homepage or visit: https://www.24x7loans.com/HYLSUnderwritingGuide/Main.aspx
The HYLS Underwriting Guide homepage will appear
Click 'New User' & continue
Enter your credit union's Charter Number - Please email firstname.lastname@example.org if you do not know your Charter Number
Create your own passwords - Note: One password will allow access for the guide and the second password will be used for the Administrative Reporting
The login will appear. Enter your Charter Number and password.