Curing Loan Production Peaks and Troughs
The production of a typical community bank often resembles the chart below. There are discernable peaks and troughs. We know this as our pipeline functionality in our Loan Command pricing and management model helps banks track production and closing rates for loans. In this article, we explore what a typical closing percentage looks like for a community bank, how it changes month to month and provide some tips as to how to smooth the process out and get more efficient at loan production.