Smartlend provides their clients with expert analysis of customers who default on their loans as well as solutions to further decrease the default percentage in the future. By making recommendations on how to best utilize the lead providers and what controls to implement during the internal and external underwriting process, the default rates will effectively decline.
Smartlend provides a detailed monthly report indicating the client default rates, the marketing costs, the underwriting costs and effectiveness of each lead provider. By making necessary changes to lead traffic, we can reduce the default rates and the cost per loan.
On a daily basis, the status of each scheduled payment is reviewed to determine if was it was processed successfully. If a client’s payment was returned, it will be documented under the correct collections status. Recommendations will be made on how to handle collection accounts.
Operation costs, fixed costs, variable costs, miscellaneous business expenses, revenue along with future forecasted receivables are accounted for in order to control the cash flow of the business.
Daily management of the company’s current client portfolio is necessary to track all relevant information to ensure all reporting and analysis is executed with 100% accuracy.
This in-depth analysis provides our clients with recommendations on how to adjust current business policies and procedures to maintain the current goals and projections and further expand the company.