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Problem Loans and the Coronavirus: 5 Strategies That Lenders Can Implement Today

Forbearance is a common first step toward foreclosure, but the process does not have to end that way. In this whitepaper, we will discuss five simple, proactive strategies that lenders can implement – even during a forbearance period — to ensure as many customers survive and return to financial health as possible.

Our discussion is intended for less complex, smaller lenders (private, regulated depository institutions with loan books under $350M) who are worried about providing personal and prudent service in the face of the volume and scale of likely pressures without access to the resources of larger financial institutions and public entities. Our guidance addresses options for working with customers in light of regulatory scrutiny and should be applicable regardless of which shock, or which stage of that shock, a lender is responding to coronavirus, energy, or various downstream effects.

Looking for Banker’s Toolbox? You are in the Right Place!

Banker’s Toolbox is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to Banker’s Toolbox Community Online.

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Looking for MainStreet Technologies? You are in the Right Place!

MainStreet Technologies is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the contact us button here, or the link in the top navigation, to reach product support for your MST products.

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Looking for Sageworks? You are in the Right Place!

Sageworks is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to your Sageworks products.

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Looking for Farin? You are in the Right Place!

Farin is now Abrigo, giving you a single source for all your enterprise risk management needs. Use the login button here, or the link in the top navigation, to log in to your Farin client portal.

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Abrigo acquires construction loan management solutions

Coupled with our lending suite, Construct and +Pay from BankLabs enable end-to-end automated residential/commercial construction loans.

Read the press announcement

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