WILMINGTON FINANCE LENDING POLICIES

2007-03-08 10:33:40

( Financial )



Wilmington finance provides underwriting services for various financial products. It offers purchase and refinances transactions, invoice financing, programs on fixed and adjustable rates, and credit for individuals with not so perfect credit histories. It also offer services related to consolidation finance.

Allowing full authorities to its employees makes transactions with Wilmington Finance faster which is beneficial for clients. It can process lending transactions in an average of three weeks. These include application, evaluation, verification and processing of data to closing in of transactions.

Responsible, fair and priority to customers are the main policies of Wilmington Finance in terms of lending. These three lending policies serve as guideposts to its employees in providing service to its client and maintaining standard of quality service in the lending industry.

Responsible Lending

The management of Wilmington Finance believes in providing responsible lending to its clients by having its management responsible for addressing requirements needed for anti predatory lending as outlined by the Lending Compliance Committee. Further, it assures the regular monitoring of its lending activities to ensure that its products and services delivered by its personnel ensure its commitment to responsible lending.

Customer complaints will be monitored closely and verified by management to ensure that client service is provided at its optimum level. Wilmington Finance considers its clienteles’ feedback important in fine tuning its operation and helping them ensure the provision of responsible lending.

Fair Lending

Wilmington Finance complies with the requirements of Fair Lending Laws by providing consistent and fair treatment of its clients. Constant monitoring of its employees compliance to its fair lending policy will be regularly done particularly in its mortgage lending operations to ensure that its clients are getting fair service from its employees.

Priority to Customers

The lending operations of Wilmington Finance are provided with the customers benefit as the foremost priority. No high cost loans and protection against abusive practices are two of the policies it strives to implement to prioritize its customers. Also, it lend only to customers based on their ability to repay the loan. Thus, it will conduct intensive evaluation on the client’s abilities to repay their loan based on both primary and third party information.


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