A strong loan preapproval is essential to winning a multiple-bid offer for a foreclosure.
In an interview on Friday, Mr. Sloan said that strong loan growth throughout the bank, including in autos and credit cards, reflected potential opportunity.
They have strong loan growth and they're very well capitalized.
Profit growth was driven by strong loan growth across the board in mortgages, personal loans and business borrowing in Ireland.
That enviable cost structure allows the company to under-price competitors, generating strong loan originations while posting net profit margins higher than the industry average.
Strong loan growth, tight expense controls and effective balance-sheet management are driving solid results at Nara Bancorp. September-quarter earnings per share increased 3% to $0.33, beating the consensus by $0.02.
African American, Hispanic, Asian, and female small business borrowers in particular face difficult access-to-capital challenges and often lack the guidance to develop strong loan applications.
JPMorgan Chase, the nation's largest bank by assets, reported a record $24.7 billion in profit last year, in part because of what a top executive called strong loan growth.
PCV's borrowers are assigned a pro bono small business financial advisor to help complete a strong loan application and have access to free-one-on-one technical assistance throughout the life of the loan.
