This is our most popular delivery platform for the BRS Partnership utilizing a similar methodology to an outsourced underwriter/servicer for mortgage loans. The tenants of this private label outsourcing model are:
- Your Bank originates the transaction and owns the customer for the life of that client relationship.
- The credit decision is completely within your Bank’s control. The BRS Servicing partner conducts the due diligence using strict underwriting guidelines, as set by the industry, and makes a recommendation to the Bank. Your Bank then makes the decision whether it wants to fund the transaction.
- Your Bank owns the paper and is the owner of the lien on the UCC filings.
- Your Bank has dominion of funds.
- The Customer Relationship is serviced in your Banks name by the best back-room operations servicers in the Accounts Receivable Industry in North America.
- Your Bank funds 50% of the transaction and the BRS servicer funds the other 50%, hence the servicer is also a participant with the bank. This is a true participation relationship where the risk and reward is shared 50% by your Bank and 50% by the BRS servicer.
BRS will provide your Bank with:
- Bank compliant software to manage the relationship in real time with the BRS servicer.
- A formal credit policy with your bank’s credit appetite which will meet the regulatory guidelines.
- An Operations/Policy & Procedures Manual for the lock box and funding.
- A customized marketing program for the target market of the bank.
- Training for your existing loan officers in the BRS program.
- Recruitment services available for a product specialist within your bank.