|
Frequently Asked Questions
|
- What is LoanOptimizer.com,
Inc?
- What does LoanOptimizer.com,
Inc. know about community banks?
- How can I become a member?
- How much does it cost?
- Why should my bank use
LoanOptimizer.com?
- What types of loan participations
can I buy or sell on LoanOptimizer.com?
- How can I change my password
or other user information?
- How many bank users can
I have?
- I have a loan participation
to sell or I want to buy loans. How do I get started?
- How do I post a loan on
LoanOptimizer.com?
- What is the shopping cart?
- When I post a loan for
sale will my competition be able to identify my customer?
- How do I search for a
loan?
- What does it mean to Request
Additional Information for a loan?
- What platform does LoanOptimizer.com
support?
- How secure is the LoanOptimizer.com
site?
- How do I know which version
of Microsoft Internet Explorer or Netscape Navigator have?
- I need to get a copy of
one of the recommended browsers. What do I do?
- Help! I need technical
support! Who do I contact?
- How can I speak to a person?
- Do you offer other services
my bank can use?
1.
What is LoanOptimizer.com, Inc?
LoanOptimizer.com is an Internet bulletin board for posting loan participations
for sale. John M. Floyd & Associates developed the product to allow participants
to communicate electronically when participation is necessary. It is the first fully
automated bank to bank portal of its kind. This takes the hassle out of deal making
with speedier communication through automated exchange and review of information.
Community financial institutions can now solicit any customer with the ability to
find participants for excess loans fast and efficiently. John M. Floyd & Associates
found that clients often-participated in loans together and most of the time it
was bankers who had known each other for quite some time. Recent changes in the
banking industry with numerous mergers and acquisitions have caused these previous
sources to decline. In an effort to assist these clients,
LoanOptimizer.com
was developed.
LoanOptimizer.com is a method of developing a new network
while at the same time allowing these bankers to offer their loans to a much wider
audience. The idea of
LoanOptimizer.com is simple - bring banks together
through the power of the Internet and allow them to fund and participate in loans
together. LoanOptimizer.com simplifies the process by eliminating numerous phone
calls, faxes and messages on voice mail. Sellers and buyers can locate each other
faster and easier. It's a win-win situation for everyone involved.
Return to top.
2.
What does LoanOptimizer.com, Inc. know about community
banks?
The principals of
LoanOptimizer.com are former bankers and are in constant
touch with community banks and bankers through not only
LoanOptimizer.com,
but with former and present consulting clients. John M. Floyd & Associates,
founder of
LoanOptimizer.com has been in the consulting business for over
25 years and has helped over 2,000 banks in 50 States and Central America.
John M. Floyd, Chairman of LoanOptimizer.com and John M. Floyd & Associates,
formed the company that bears his name after service in private industry, a major
regional bank and another consulting practice. In each position he was involved
with competitive pricing, new product development and marketing, and profitability
performance by product and product line.
During over two decades of consulting, Mr. Floyd has expanded his work to include
operational, financial and delivery system issues of the financial services industry.
Prior to joining a consulting practice, Mr. Floyd was a Profit-Planning Manager
for Texas Commerce Bank.
His consulting assignments have brought positive results to more than 2,000 banks in
50 states and Central America. In each case, his sole focus was to improve his clients'
bottom line by developing and implementing systems that continued to produce earning
results long after his work was completed. In carrying out these projects, Mr. Floyd
draws on his experience in both Banking and private industry to ensure that the strongest
procedures and approaches devised in this country are put to work for his clients.
William A. "Bill" Adkins, Jr., President of LoanOptimizer.com
joined John M. Floyd & Associates on a full time basis in May 1998. He previously
assisted John M. Floyd & Associates with various jobs including a major New
England Bank where he wrote Credit Policy and Procedures and provided training to
analyst, lending assistants and lenders.
Mr. Adkins took early retirement in 1994 after a 34-year career with Fourth Financial
Corporation, a $7.5 billion, Midwest, multi-bank holding company. During his career
he served in all customer contact divisions of the bank including serving as Executive
Vice President and Senior Lender of a $500 million community bank, member of all
management committees including Executive Committee of the Board of Directors and
was a Certified Bank Compliance Officer. From 1992 to 1994 he served Executive Vice
President and Special Assets Manager in NE Kansas for BANK IV, Kansas and after
retirement continued to provide credit consulting and training services to Holding
Company banks in Oklahoma.
From 1994 to 1998 he was an independent consultant to numerous banks in the Midwest.
Major projects including writing policies and procedures, performing directors loan
audits, performing bank-wide assessments of personnel and procedures, assisting
with centralization issues, assisting with development of Action Plans for criticized
credits and providing credit training. Additionally he provided "Risk Management"
and "Lending" training sessions in the New Independent States of the former Soviet
Union.
For over twenty years he served as a Section Leader and Lecturer at the Graduate
School of Banking. Additionally, he served as adjunct instructor in Business Administration
at Washburn University, teaching "Credit Management" and was a contributing author
for "Bank Credit", edited by Herbert Prochnow and published by Harper & Roe.
Return to top.
3.
How can I become a member?
You may contact us through the web site
www.LoanOptmizer.com by clicking
on membership and completing the membership form to send automated email request
for membership, User ID and Password, email us at
Bill.Adkins@JMFA.com or
call 866-881-9531. Upon request we will assist you with a complete demonstration.
Return to top.
4.
How much does it cost?
Member Bank agrees to pay a fee of twenty-five (25) basis points (0.25%) for any
loan sold as a result of contact with a Member Bank through the LoanOptimizer.com
System.
Return to top.
5.
Why should my bank use LoanOptimizer.com?
We know that our clients often participated in loans together and most of the time
it was bankers who had known each other for quite some time. With recent mergers
and acquisitions the number of sources has diminished. Our new
LoanOptimizer.com
allows these bankers to develop a new market to offer their loans to a much wider
audience on a fully automated bank to bank portal. This process is much faster and
more efficiently than the current method of phone calls, faxes and voice mail. In
addition, LoanOptimizer.com members have access to a Risk-based Loan Profitability
Model which is bank specific and allows a bank to monitor profitability on loans
and relationships based on the bank's actual cost.
Return to top.
6.
What types of loan participations can I buy or sell on LoanOptimizer.com?
Any type of business, agricultural, or real estate loan or pools of consumer loans
can be listed for sale or purchased on
LoanOptimizer.com.
Return to top.
7.
How can I change my password or user information?
To change your password or user information, click on the User Information link
in the left margin and change necessary information. When you change password or
other information in Your File, be sure to click Save Profile when finished.
Return to top.
8.
How many bank users can I have?
The number of bank users for each seperately chartered member bank is not limited.
Additional members can be added by clicking on the "User Information" link in the
left margin of the Home Page and adding new users by completing the necessary information
in the appropriate section of the page. Be sure to click the Add User button after
inputing information.
Return to top.
9.
I have a loan participation to sell or I want to buy loans.
How do I get started?
The process is simple. Buyers and sellers find each other by posting loan participations
for sale and Loans Wanted. A seller posts a "snapshot" of the loan by merely clicking
on the Add Loan link after log-on and using point and click on pull-down menus.
Sufficient information is provided that other banks can determine if they would
like to participate and help fund the loan. This "snapshot" includes Loan ID #,
Originating Bank, Loan Type, State, County-Parish, Amount, Variable Rate, Present
Rate, and Term. They can then attach additional information such as the Loan Approval
Report and Statement Spread, which are available to purchasing bank only upon request
and approval. A buyer can see what is currently for sale by clicking on View All
Loans. Additional features of the website include a search engine that will search
by bank, loan type, state, county/parish, loan amount, variable rate, present rate,
and term. The results can then be sorted by any of the above categories and then
placed into a "shopping cart" for viewing later. Each loan also contains a unique
ID# for quick access. This allows a banker to quickly search out specific loans
that would best benefit his portfolio. Each time a member logs on to the service
a listing of loans posted since last logon is shown. The member can then click on
the Loan ID and view specific information for that loan along with contact information
and an automated email button to request additional information. When the selling
bank receives the request for additional information, they can review contact information
to determine the requesting individual and bank and make a decision to approve or
decline the request. The automated nature of
LoanOptimizer.com is a major
benefit. A purchasing bank should have sufficient information available to perform
due diligence without the necessity of personal contact with selling bank.
Return to top.
10.
How do I post a loan on LoanOptimizer.com?
To post a loan for sale (add a loan), merely click on the Add a Loan link. A new
page shows a series of pull down menus which make the process primarily a point
and click routine. The only specific information that must be typed is the exact
amount offered and the additional comments that give a brief explanation of loan
details. After completing this information, click Save at the bottom of the page,
which will then show a page with the assigned Loan ID and a view button. Click on
the view button which discloses the specific information on the posted loan. To
edit the posting or to add attachments, to the bottom of the page and click edit.
The new specific information page opens all fields for edit and right below specific
information a button Add Attachment is shown. Clicking on Add Attachment will show
a browser. By clicking browse, the posting individual can access the appropriate
drive on the computer and select and attach any information desired. After editing
and/or attaching data, the poster must again save the information by clicking the
Save button at the bottom of the page.
Return to top.
11.
What is the Shopping Cart?
The Shopping Cart is a storage area in the program to segregate loans in which a
buyer has interest for referral to others in the bank or for viewing later.
Return to top.
12.
When I post a loan for sale will my competition be able to
identify my customer?
When posting a loan, the selling bank posts only a thumbnail sketch of the actual
loan, which does not include personal or confidential information. Any attachments
such as the Loan Approval Report and Statement Spread are not accessible until the
potential purchaser makes a request to the selling bank who determines whether to
approve or decline the request.
Return to top.
13.
How do I search for a loan?
There are two search methods available to potential purchasers. The first is a location
search by Federal Reserve District. This search may be accomplished by clicking
on the Search Fed Map link on the left margin of the Home Page. To search for a
loan that meets the specific criteria for your bank merely click on the link, Search
for Loans. You will then view a page of specific pull down criteria that you select
by a point and click routine. The search is capable of fine sorting by multiple
criteria. After inputting your criteria, click on the search button. The next page
will show you the loans found and an overview of each loan. To view specific details
of individual loans and request additional information, click on the Loan ID number
at the left of the loan you wish to pursue.
Return to top.
14.
What does it mean to Request Additional Information for a
loan?
When a selling bank posts a loan, they have the ability to attach any additional
information available to assist a potential purchaser with due diligence. They may
include a Loan Approval Report, Statement Spread and any other items available through
scanning or in imaged format. When a potential purchaser reviews the basic information
posted on the site and develops interest in a specific loan they may click on the
Request Additional Information button which send an automated email to the sellers
LoanOptimizer.com site and also their personal email address. When received, the
representative of the selling bank will investigate, through site information, who
the seller is, where they are located, and make a decision to approve or deny the
request. The action taken by the posting bank is then automatically shown on the
directory page of the potential purchaser's LoanOptimizer.com directory page.
Return to top.
15.
What platforms does LoanOptimizer.com support?
LoanOptimizer.com supports any Windows platform from Windows 95 up. Namely Windows
95, Windows 98 and Windows 2000.
Return to top.
16.
How secure is the LoanOptimizer.com site?
LoanOptimizer.com requires using version 4.0 or higher of Microsoft Internet
Explorer or Netscape Navigator to help safeguard the security of the data you enter
on LoanOptimizer.com. We use Secure Sockets Layer (SSL) technology which is most
effective when used with the more resent versions of Microsoft Internet Explorer
or Netscape Navigator.
Return to top.
17.
How do I know which version of Microsoft Internet Explorer
or Netscape Navigator I have?
For both Explorer and Navigator, choose "Help" from the top menu bar, the click
on "About Internet Explorer" or "About Navigator." This will bring up a separate
page which list which version you are using. To use LoanOptimizer.com, you need
version 4.0 or higher of either browser.
Return to top.
18.
I need to get a copy of one of the recommended browsers.
What do I do?
For both programs, you can download the latest version from the Web.
For Netscape Navigator:
To download the current Netscape Navigator web browser at no charge from the website
go to
http://www.netscape.com/computing/download and click the Download
It Now button.
For Microsoft Internet Explorer:
To download the current Microsoft Internet Explorer web browser at no charge from
the Microsoft web site, go to http://microsoft.com/windows/ie and click the "Download"
button.
Once you download the browser, you will still need to follow the browser install
directions to activate it on your system.
Return to top.
19.
Help! I need technical support! Who do I contact?
LoanOptimizer.com is a web-based service, therefore if you have a connection
to the Internet and browse the World Wide Web using either Microsoft Internet Explorer
Version 4.0 or higher or Netscape Navigator version 4.0 or higher, using LoanOptimizer.com
does not impact your internal Information Technology resources. In the event you
do have a problem with access to the LoanOptimizer.com web site merely call any
of our representatives or email
Bill.Adkins@JMFA.com and we will investigate the problem and if necessary
have our technical support staff contact you.
Return to top.
20.
How can I speak to a person?
LoanOptimizer.com maintains a support staff in its offices in Houston, Texas
who are available for 8am to 5pm Central time, Monday through Friday. They can be
reached at 866-881-9531 or through email at "contact us" or "Lending Questions?
Ask Bill!" on the Web Site or
Bill.Adkins@JMFA.com, or on his phone at 800-409-7587.
Return to top.
21.
Do you offer other services my bank can use?
As a member of
LoanOptimizer.com you will have access to a
FREE Risk-based
Loan Profitability Model, an excellent tool for a Community Bank to review pricing
of loans and relationships. Not only is it a valuable tool for Loan Officers and
Loan Committees, it forces the Bank to think through its philosophy in pricing loans
as it builds its own cost profile. Pricing loans by what sounds good, or by just
using a National Prime Base Rate, is no longer sufficient. By using the Risk-based
Loan Profitability Analysis, you can not only determine how much to charge but how
low you can go and still make a profit. The model will also analyze relationship
profitability.
In addition, consulting services are available through John M. Floyd & Associates.
For over 30 years, John M. Floyd & Associates have helped more than 2,000 banks
in 50 states manage change and improve their bottom lines. Their services include:
sales and product programs, fee income programs, sales and service programs, expense
control programs, operational effectiveness programs, profit planning programs,
and now e-commerce. For example; How would you like to raise non-interest income
by 40% to 50%? Today, the most desired service by all banks is a method
of increasing non-interest income without raising fees. The addition of Overdraft
Privilege is a proven product from John M. Floyd
& Associates to allow you to increase your fee income dramatically without increasing
your service charge fees. JMF&A clients have experienced increases in service
charge income of 40% to 50% which they have been able to sustain over extended
periods of time. Best of all, customers become more profitable and have a higher
satisfaction rate than before. The John M. Floyd & Associates program includes
installations of all the necessary elements to ensure success. Put our over 30 years
experience to work for your bank.
Return to top.