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07/01/08
CRIF Acquires Teres Solutions as Part of Continued Global Expansion
3/5/08
Austin Credit Union, Vendor Fight Credit Crunch with Software
1/29/08
Teres Solutions Customer Base Grows by 25 Percent
9/21/07
Teres Solutions Inks New Customer Deals with Top Credit Unions
Give Lending A Hand
by Michael Bartlett, Reporter ELGIN, Ill. -
Auto Lending
Bruce Callen, president of Teres Solutions, Austin, observed that the loan market of the past 12 to 18 months has been quite variable, depending on the region of the country. In some areas, indirect lending has been waning, causing a shift in focus to home equity. He said he "definitely" thinks margins and yields on indirect lending will get back in line.
"Just because of supply and demand, the spread will get back to about 4% from about 2%, where it has been over the last two years."
The reason: three or four years ago, only the major banks were able to receive loans electronically from auto dealers.
According to Callen, this capability now is offered to credit unions of any size by software from vendors such as Teres Solutions, meaning credit unions can instantly approve similar loans using software that examines credit and debt levels and automatically approves members for whichever loan they qualify.
To view full article go to www.cujournal.com/article_search.html?articlequeryid=1454348808&hitnum=2
About Teres Solutions, Inc.
Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.
Auto Lending
Bruce Callen, president of Teres Solutions, Austin, observed that the loan market of the past 12 to 18 months has been quite variable, depending on the region of the country. In some areas, indirect lending has been waning, causing a shift in focus to home equity. He said he "definitely" thinks margins and yields on indirect lending will get back in line.
"Just because of supply and demand, the spread will get back to about 4% from about 2%, where it has been over the last two years."
The reason: three or four years ago, only the major banks were able to receive loans electronically from auto dealers.
According to Callen, this capability now is offered to credit unions of any size by software from vendors such as Teres Solutions, meaning credit unions can instantly approve similar loans using software that examines credit and debt levels and automatically approves members for whichever loan they qualify.
To view full article go to www.cujournal.com/article_search.html?articlequeryid=1454348808&hitnum=2
About Teres Solutions, Inc.
Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.
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