How to conduct a loan policy tune-up
Best practices to build and update your policies
A loan policy is a critical part of lending that ensures the bank or credit union operates within its prescribed risk tolerances. In today’s competitive and fast-changing lending landscape, an up-to-date loan policy may be more important than ever to properly reflect the institution’s particular needs and goals while allowing some flexibility to remain effective.
Although each institution’s process will differ slightly, the best practices outlined in this loan policy guide will enable your financial institution to understand and build an effective loan policy.
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