Turnkey Refinance Program
YSG’s turnkey refinance program provides lenders with a variety of solutions for creating, expanding, or diversifying a loan portfolio. With options for generating lease buy-outs, auto loans, motorcycle loans, and recreational vehicle loans, lenders can increase volume in one or more categories. Leads can come from sources developed by YSG or, for OEM captive finance companies, leads can be warm transferred directly from their call center or marketing efforts.
Because YSG can customize the program to specific lender requirements, lenders can also choose to add or focus on different regions to manage geographic concentrations. By adjusting the program guidelines, the lender can also test new programs and manage yield as needed. YSG’s program can also be used to adapt to competitive pressures, with the ability to lend in certain areas with certain programs without any visibility to the marketplace. For all types of lenders, including OEM finance companies, using YSG as a Business Process Outsourcing partner support profitable growth without the need to build out additional internal operations.
- Low-cost access to prequalified applications that meet the Lender’s criteria
- Ability for Lender/OEM to refer direct refinance requests for pre-qualification/application processing
- Simpler, more efficient, and less expensive option for originating loans without having to interface with a dealer network
- All loans are refinance loans with customers who have indicated a desire to refinance
- Opportunity to originate direct loans through existing indirect channels and processes — no new operations are needed
- Generate low-cost additional volume
- High Look to Book rate efficiently generates rapid volume with lower processing costs
- For credit unions, efficient method to increase membership
- Access to a broader market than the Lender can generate directly
- Alternative to building internal infrastructure to support refinance activities
- Ability to generate specific amount and types of loans to supplement existing portfolio
- Ability to target specific criteria to complement or supplement existing portfolio parameters to enhance overall yield
- Third-party moves loan from past lender to new Lender, which minimizes competitive pressures
- Obtain consumers who have proven their ability to perform on their loans
- Refinance loans tend to perform better than original indirect loans since loan performance expectations are based on proven past payment history
- The outsourcing program fully supports all aspects of regulatory compliance
As an outsourced, full-service application generation partner, YSG flexes to each lenders’ changing needs and requirements. When a lender has aggressive portfolio yield targets and significant growth goals but doesn’t want to invest in the infrastructure to generate those loans on their own, YSG offers a strategic, cost-effective, low-risk solution.