ELGIN,Ill– Lending Solutions, Inc. (LSI) reported it has underwritten its 100,000th indirect loan in 2014.
The company said it saw record indirect applications throughout the third quarter and that trend has continued into the fourth quarter. LSI’s previous annual record for indirect loans was set in 2013 with just over 81,000 applications underwritten.
Lending Solutions started processing loan applications over the phone for credit unions in 1995, and added indirect applications via fax and direct interface in 1997. The company currently works with the majority of the leading indirect lending platforms and helps credit unions by providing immediate, personalized response back to dealers 24/7.
“Indirect has become a big area of growth for us,” said Tiffiny John, director of Lending at LSI. “With most members visiting the dealership at nights and on weekends, the demand for our 24/7 underwriting support from our current clients and new prospects has exploded. We’re proud of our ability to handle this unprecedented growth, and we’re committed to building and developing our skilled underwriting team so we can help more credit unions increase market share in the auto lending sector.”