Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
New service connects loan buyers sellers online
CHATSWORTH, Calif. (1/18/11)--Credit union-owned and operated Business Partners LLC (BPLLC), a provider of member business lending services for financial institutions nationwide, has launched BP Connect, an online marketplace that connects financial institutions looking to purchase loans with those who sell loans. BPLLC's loan participation platform enables buyers and sellers to interact directly in an online marketplace. Sellers can post loans they have available for viewing by potential buyers, who can view loan bundles and receive daily alerts with newly posted loans. BPLLC's existing standards and platform also allow participating institutions to complete due diligence quickly and easily, said the credit union service organization. For financial institutions seeking to remix their balance sheets, BP Connect provides a way to purchase or sell residential real estate, auto loans, credit cards and other consumer loans. "With this new participation marketplace, it's easier than ever for financial institutions to manage liquidity, reduce their concentration risk, and diversify their portfolios," said Jean Faenza, president/CEO. "We've removed the middleman and created an environment where buyers and sellers can easily find each other and conduct business using our advanced loan participation platform and tools." The Chatsworth, Calif.-based BPLLC's member business lending services include origination, underwriting, documentation, servicing, and risk management and reporting. It has more than $1.5 billion in business loans under asset management.


RSS





print
News Now LiveWire
#creditunions celebrate #EarthDay2015 by being green aware with e-statements, hosting shred events, planting trees
12 hours ago
From @WSJ: 33% of companies say it took them more than 1 yr to discover a data breach. http://t.co/a0MxV68X6t http://t.co/lkglx6WvKs
16 hours ago
.@CAMCouncil taps into @MICreditUnions' career, tech training resources http://t.co/sotnfCUgIo
17 hours ago
#Inflation ticks up in March, still relatively flat #NewsNow #Market http://t.co/PyAvwdkJ4M
18 hours ago
#NewsNow Ill. league groups elect board, exec officers http://t.co/KAG8MtbGsv
18 hours ago