“The time and cost savings we have achieved by automating the investor reporting of our entire loan participation portfolio is a total game-changer.”
– Jason Stiles, Vice President of Loan Participations SchoolsFirst Federal Credit Union
Beginning in 2020, SchoolsFirst substantially increased its purchasing of commercial and consumer loan participations. While these purchases helped SchoolsFirst balance and diversify its loan portfolio, the additional administrative burdens brought on by the expansion of the participations program stretched the resources of its accounting, credit risk and reporting teams. Managing multiple reports from various sources, the complexity of SchoolsFirst’s workflows increased exponentially with each additional seller.
Leveraging over 10 years of experience ingesting, normalizing and consolidating reports of all formats, shapes and sizes, LoanStreet was able to streamline all of SchoolsFirst’s participations reporting workflows, while unlocking powerful insights about the performance of their program.
