Book Description
"Managing a Consumer Lending Business" summarizes the lore and the knowledge of the business as the new century begins. It covers many subjects a good manager should know: the importance of how to attract enough good accounts to offset the inevitable bad accounts that every lender will get, controlling line sizes, encouraging use by good customers/discouraging or controlling the bad customers, managing profitability with predictability, if he or she is to effectively run a high-volume consumer business.
Customer Reviews:
Managing a Consumer Lending Business.......2007-07-14
I was looking for a solid foundation of facts and tried practices for retail banking employees could use to attrack new business. This book didn't offer that
Excellent book for beginners.......2006-12-10
To people who are entering the profession of consumer lending, this is an excellent primer. It gives a 360 degree view of the business from acquisition and management of accounts to collections, recoveries and profitability analysis. While it doesn't cover any one topic in great depth, it is an ideal book for people starting off in this exciting business. I wish David Lawrence would write many more books. He has the art of explaining concepts in a clear manner. I really enjoyed this book.
An Excellent Guide for Retail Banking Marketers Entering Lending Business.......2006-10-22
In market place, there are few books that are easy to understand but comprehensive to cover all respective area of consumer lending business. I have to say, this is one of the few. In the past, I acquired the personal lending knowledge from some credit scoring books with difficult math and serious multi-variable statistics. This title is not only easy even for marketing or sales persons to understand the basic concept but also good for new credit analysts or college/graduate students who just joined the business to have a whole concept. Strongly recommend this title to those who are in the marketing or business planning roles in retail lending business. It could help bridge the knowledge gap about the lending business and create some common langague with other functions, especially credit and collection. However, for those in credit function, this title is good for overall understanding but not detailed or comprehensive enough for risk management.
Good primer for analysts looking for more domain knowledge.......2006-09-06
Managing a Consumer Lending Business by David Lawrence and Arlene Solomon is a good primer I recommend for the readers of S4SAS.com and analysts working in the areas of consumer lending in general.
This book covers the fundamental principles of lending along with the practices at various product life cycles. While conducting SAS training, I observed that lot analysts do not know why managers look for some information and why they insist on certain format the information to be presented. After reading this book, the reader will have a background to understand the business requirements better and will be familiar with necessary lending related terminologies.
I found the following topics covered in the book useful for an analyst.
1. Overview to the consumer lending process and products.
2. Acquisition and direct mailing - segmentation, prescreen processes and practices.
3. The use of credit scoring, score monitoring and reporting process.
4. Portfolio Management and utilization of behavioral scores, strategy tracking.
5. Collection strategies and tactics
6. Private label credit cards and retail sales (dealer) financing.
8. Importance of Management Information systems.
Best in its Class.......2004-01-20
Managing a Consumer Lending Business is an excellent primer covering both fundamental practices and principles for safe and sound lending. This book covers the basics well and should be required reading for management trainees and those new to consumer lending. This 2002-published book is superior to older, now-obsolete books on consumer lending, and is spiced with anecdotes, quotes and references to mistakes that made headlines. The chapter on recessions is germaine and usually neglected by other books. The only criticisms are minor: a few too many references to the authors' consulting practice, and it would be improved by a chapter or two on securitization and the gain-on-sale practices.
Book Description
The subprime lending market is growing rapidly due to the use of securitization and the attempts of lending institutions to boost their client pool. This book gives readers a working, up-to-date knowledge of subprime consumer lending. It provides a guide to the concept of credit risk as it relates to lending practices, risk-based and risk-adjusted pricing, credit scoring, collection methodology, credit card services, auto loans, several aspects of securitization of subprime assets, and recent developments in the United Kingdom.
Customer Reviews:
Excellent Subprime Tutorial.......2006-08-15
This book is an excellent tutorial about Subprime lending. The theories are applicable from the get go and should be studied for anyone considering entry into the Subprime market, credit cards, auto loans, etc.
Michael Moeser
Former Director, Capital One
Highly Overpriced.......2004-11-25
This tiny book does address the issue of lending to subprime market, but it is severely overpriced. It is a collection of papers on topic lending to subprime market. You can do much better with Managing Consumer Lending Business from David Lawrence, you get more information than here, plus the book is much better organized and easier to read. I was dissapointed.
Book Description
Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated-and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare.
Richard Lord is a writer for the Pittsburgh City Paper whose work on subprime lending has won numerous awards.
Customer Reviews:
The only "Predators" are in the Capitol .......2007-07-25
Please I have had enough of these books full of tear jerking anecdotal stories. The undisputable fact is that a majority of borrowers who for whatever reason use sub prime financing benefit from its availability. I have been a "predator" for over 20 years in auto and home finance and I have many more happy and appreciative customers (I can write 100 books) than I do unhappy and dissatisfied clients (Thats how you stay in any business).
My experience has shown me that more regulations only makes money less available for folks that have substandadrd credit or other circumstances that make them un-bankable, in effect diminishing the amount of choices adults have to run their own financial lives.
Before you buy a house, before you refinance, read this book........2005-08-14
Journalist Richard Lord's book "American Nightmare: Predatory Lending and the Foreclosure of the American Dream" takes a good hard look at the subprime lending industry in America. The facts here are astounding. Basically, everyone thinking about buying a house, or refinancing a house needs to read this book before making any decisions.
There's no law against stupidity, naivety, or ignorance, and the subprime industry in America preys on people who simply don't know any better. According to Lord, the subprime industry existed for years on the fringes of the housing market, but now, subprime is BIG business. In California alone, subprime mortgage loans represented only 4% of all mortgage loans in 1993 but swelled to 20% of the entire California market in 2005. With aggressive marketing tactics, the subprime lending industry lures in all sorts of borrowers. In the past, the subprime industry fed off of those with shaky credit, and financed people who had few other options. But that is changing. Subprime lenders now hook borrowers who have much better options.
Lord includes many anecdotal stories of people who owned their homes and then were systematically stripped of their equity as they refinanced. It's easy to shirk off the troubles of those who refinance due to mega credit card debt, and then simply max out those cards again and again. But some of the stories here are just wicked. Lord explains that subprime lending strategy is "Target, Trick, and Trap." Subprime lenders are not upfront with closing costs, hidden fees, and percentage rates. They offer pleasant terms, lure the borrower in, and then lower the boom with the real figures at closing. In several instances, mortgage companies grossly exaggerated the buyer's income, or the value of the house in order to secure the loan and didn't mention a little balloon payment of $50,000 due in a few years. Lord's examples include people who owned their homes free and clear and then were approached by contractors who received kickbacks from mortgage companies for arranging loans. This work is often outrageously priced, never completed, and the homeowner is left with a house that cannot be sold, and with payments that cannot be met.
Lord also quotes instances when loans were made with impossibly high payments. Yes, it's a buyer beware situation, and no consumer should agree to make payments that exceed what they can afford. However, it happens. Debt-ridden consumers who have a history of making poor financial choices make yet more when offered an escape route from debt. But companies who do not disclose the finer, nastier points of the loan skirt the edge of illegal lending practices. One homeowner employed a lawyer to fight the mortgage company trying to foreclose. The lawyer was astounded at the payments her client agreed to, and asked why would a lender approve a loan that cannot possibly be paid back. The book explains that these loans are bundled together and sold as securities on Wall Street--the deal is to "lend high, rake in as much as possible by selling mortgage securities to investors". It's a process that's made millions for the CEOs of these companies.
Just in case you are thinking that you are safe from loan predators, think again. The book also details some very familiar scams and games played by some "respectable" mortgage companies and banks. For example--declaring your homeowner's insurance has expired, presenting you with a deadline to "fix it" and then buying it for you at triple the cost. Basically, if you have a house, with equity in it, and you want a loan, the consumer should remember that someone somewhere is eying that equity, licking their lips and deciding how to take it away from you--displacedhuman
An intriguing title all pre-homeowners should read.......2005-05-12
Many homeowners who can't borrow from banks have relied on the subprime lending industry for mortgages - an industry which has increasingly assessed huge fees and then foreclosed on the house when a buyer couldn't make payments; in effect becoming a predatory lender. American Nightmare: Predatory Lending And The Foreclosure Of The American Dream is one of the first to probe in detail the methods of predatory lending sources, discussing the plight of borrowers who have been taken, lenders cheated, and state efforts to regulate the industry. An intriguing title all pre-homeowners should read!
GOING TO THE POORHOUSE ON THE PREDATOR EXPRESS.......2004-12-31
This Book is concise, informative, and easy to read. Not highly technical, it is full of anecdotal stories. The layperson can read through its pages and keep saying, Oh My God, that's what happened to me. That's my story. How can this happen? How can Banks and other lending institutions get away with this? It is a clear case of, What you don't know will definitely hurt you. Knowledge is power, and Richard Lord puts the power back into the consumer's hands. Like lemmings running headlong towards the cliff, the american borrowing public are rapidly racing for that precipice. All too many have fallen over and disappeared into the ether of predatory victimization. Read and inform yourself, before you become one of the tens of thousands of victims, herded like cattle, into that mischievous money pit,from which most never recover. A must read for all those who want to be informed before, during, and after personal financial disaster strikes! Concerned Citizen
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Why the Poor Pay More: How to Stop Predatory Lending
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American Nightmare: Predatory Lending And The Foreclosure Of The American Dream
ASIN: 027598186X |
Book Description
The proverbial American dream of owning a home has become an all-too-real nightmare for a growing number of families. The most vulnerable segments of our society--including minorities, the elderly, and working families--are being victimized by financiers who lure them into commitments they cannot fulfill. Collectively known as "predatory lending," these practices include offering higher interest rates than can be justified by the risk, high pre-payment penalties that lock families into exploitative loans, and monstrous balloon payments that often result in default and the loss of the home. The net result can be disastrous: damage to one's credit rating, bankruptcy, and even the loss of lifelong savings. Why the Poor Pay More is an incisive exposure of these practices: how they have evolved, why they have become so prevalent in recent years, and how their negative effects can be quantified. It features in-depth analysis from prominent scholars, legal experts, and community leaders, who shed new light on the social, political, and economic consequences of predatory lending. Why the Poor Pay More is much more than an indictment of these insidious discriminatory practices. It is a call to arms for anyone concerned about how the financial-political system can be corrupted to serve the needs of the wealthy. Highlighting community initiatives already underway to combat predatory lending and an extensive listing of practical resources, Why the Poor Pay More outlines active roles that individuals, advocacy groups, financial and legal service providers, and policymakers can play in reversing this destructive trend.
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Residential Mortgage Lending
Manufacturer: Inst of Financial Education
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ASIN: 0912857323 |
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2002 AGC education awards illustrate the high standards of the print industry. (News). : An article from: Printing News
Lori Beth Belkin
Manufacturer: Cygnus Business Media
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ASIN: B0009FM27A
Release Date: 2005-07-30 |
Book Description
This digital document is an article from Printing News, published by Cygnus Business Media on June 24, 2002. The length of the article is 729 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: 2002 AGC education awards illustrate the high standards of the print industry. (News).
Author: Lori Beth Belkin
Publication:
Printing News (Magazine/Journal)
Date: June 24, 2002
Publisher: Cygnus Business Media
Volume: 148
Issue: 25
Page: 4(1)
Distributed by Thomson Gale
Book Description
The World Development Report 2004 investigates how countries can accelerate progress towards the Millennium Development Goals (MDGs) by making services work for poor people. Success in reaching the MDGs will depend not just on faster economic growth and the flow of sources, but on our ability to translate those resources into basic services, especially in health, education, water, and sanitation. Too often, the delivery of services falls far short of what could be achieved, due to issues such as weak incentives for performance, corruption, imperfect monitoring, and administrative logjams. Some countries have addressed the problem by involving poor people in service delivery; the results have been impressive. Giving parents input into their children's education, patients a say over hospital management, and making agency budgets transparent all contribute to improving outcomes in human development. Celebrating the successful innovations--while taking a hard look at some of the failures--this Report offers guidance to policymakers, donors, and citizens on improving the delivery of basic services. It serves to deepen understanding and highlight the importance of empowering and investing in poor people.
Download Description
Too often, services fail poor people-in access, in quality, and in affordability. But the fact that there are striking examples where basic services such as water, sanitation, health, education, and electricity do work for poor people means that governments and citizens can do a better job of providing them. Learning from success and understanding the sources of failure, this year's World Development Report, argues that services can be improved by putting poor people at the center of service provision. How? By enabling the poor to monitor and discipline service providers, by amplifying their voice in policymaking, and by strengthening the incentives for providers to serve the poor. Freedom from illness and freedom from illiteracy are two of the most important ways poor people can escape from poverty. To achieve these goals, economic growth and financial resources are of course necessary, but they are not enough. The World Development Report provides a practical framework for making the services that contribute to human development work for poor people. With this framework, citizens, governments, and donors can take action and accelerate progress toward the common objective of poverty reduction, as specified in the Millennium Development Goals.
Customer Reviews:
Focus on the problem........2004-03-01
Regardless of your political views, opinions about globalization, or general predisposition to the World Bank, the WDR 2004 is an essential publication addressing the issues of poverty and equity in health, education, and socioeconomic terms. Not only are the issues of equity being raised on an international level but intranationally as well. The WDR 2004 takes on the issues and problems that are increasing the disparity between the haves and have-nots within a given country. Without prejudice or preference, this report discusses the failures of institutions, national and multinational, in making the necessary strides to address poverty and the plight of the poor. This report is one of the most comprehensive resources available right now for understanding and responding to the issues of provision and access for the poor to proper healthcare, education, sanitation, clean water and electricity.
Classic Doublespeak.......2004-01-28
MAKING POOR PEOPLE WORK FOR (LOUSY) SERVICES: How the World Bank Impoverishes Third World Countries would be a more accurate title. For balance, see 50 Years Is Enough: The Case Against the World Bank and the International Monetary Fund, by Kevin Danaher, and Masters of Illusion the World Bank and the Poverty of Nations, by Catherine Caufield. Let's not forget, some 40,000 children die every day from hunger or hunger-related diseases - all in countries that have been under the thumb of the World Bank for years. Enough is enough. This neocolonial institution must go. Only then will coffee plantations and aquaculture farms again grow food for the people who actually need it.
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