“High expectations are the key to everything.” This quote, attributed to Sam Walton, drives everything we do at Centennial Lending, a credit union service organization. We strive to exceed our partner credit unions’ expectations regarding service, products and ongoing relationship management.
Centennial Lending’s executive management team has remained consistent since founding the company fifteen years ago and this team has maintained high expectations for loan quality, always keeping longevity in mind. Throughout the most drastic financial downturn of our lifetime, quality underwriting, loan monitoring and focus on relationships helped Centennial Lending maintain a quality portfolio with minimal losses within the portfolio. In fact, the company’s servicing portfolio surpassed $1 billion in loans last year and continues to grow.
In the commercial area, primarily focusing on real estate secured lending, Centennial Lending helps its partner credit unions underwrite and structure commercial loans including multi-family buildings, commercial buildings and other properties for business use. Another large focus for Centennial Lending is the 1-4 family unit investment properties. These loans are secured by residential properties held for rental income by investors. While these investment property loans are considered Member Business Loans, many credit unions opt to portfolio 1-4 family investment loans due to the fact that they pose less risk than other business loans.
“Single family residential investors are still a huge part of the purchase and refinance market today. Lenders have to be in a position to offer competitive loan terms to these borrowers in order to capitalize on the opportunities in this market,” states Mark Bostock, president of Centennial Lending. Centennial Lending helps credit unions take advantage of this area of the market by not only offering secondary market options for investment properties, but also underwriting and structuring loans so that they can be held in the credit union’s portfolio under the Member Business Loan rule.
Don’t have a Member Business Loan policy or program? Centennial Lending can help! Centennial Lending offers an annual Business Lending School which has been reviewed and endorsed by examiners and will be held in September 2015. The company also provides MBL polices that can be modified or adopted by your credit union.
Raise your expectations in what you expect from a Credit Union Service Organization and contact Centennial Lending today. For more information about the services Centennial Lending offers, please visit our website at www.centennial-lending.com or email Charles Wright at firstname.lastname@example.org.