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FARIN Announces Next Generation LoanEDGE™ Pricing Solution


Institutions Can Increase Loans & Profitability with the LoanEDGE System

Fitchburg, WI - Farin & Associates, Inc., a leading consulting firm providing asset/liability management services, retail product-pricing solutions, education, consulting, and core deposit studies to community financial institutions, announced the latest enhancement to its loan pricing product line.  This newest version of LoanEDGE combines FARIN’s two loan pricing models, iPrice Loans and LoanEDGE, with the consulting power of our industry experts, and empowers bankers, while removing the guesswork in understanding loan profitability.  FARIN’s combined pricing system will keep the trademarked LoanEDGE name.  
Bruce Hinkle, Business Executive for Farin & Associates, stated, “For many institutions there is a wall between ALCO and the loan officers.  So, the first step is educating and developing a methodology or process, which will bring everyone together.  The senior management team, the loan officers and the board, should be part of these initial meetings.  It’s very important to have the board educated, so they will trust your pricing decisions and they will be more likely to understand your request for new products. Without buy-in from the loan officers the model will collect dust on the shelf.  We see that with way too many models. Without the education from a third party the success of a loan model is greatly reduced”.
Steve Craven, Senior Consultant for Farin & Associates, added, “Besides education, our initial and periodic consulting sessions may be characterized as searching for opportunities.  Having a third party suggest ideas and opportunities gives the institution a fresh perspective and more options to consider.  With the added pressure bankers’ face today, it’s harder to think outside the box.  Clients may not always use my suggestions, but at least they have another person on their team whose primary goal is to increase loans and loan profitability. The new LoanEDGE comes with an ALCO module with helpful reporting features, and a loan officer module that gives them the ability to consider multiple financial products, including deposits, so they may value the total relationship.”
John Malanowski, President & Chairman of the Board, First Federal Savings and Loan Association of Lorain, indicated “Last year end of April, we generated 52 loans; this year, 111 loans, an increase of almost eight million dollars.  This is a result of two things:  the LoanEDGE system, and getting into the secondary market.  We now know what loans we want to keep and what loans we want to sell on the secondary market”.


 loan pricing model

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