Proper risk monitoring throughout the life of the loan is critical in identifying potential problems before they become big issues. Simply doing an annual review on the loan isn’t always enough, as things can change quickly.  Frequent touches of the loan can be effective and efficient.  To aid credit unions in this, CUBG recently enhanced our risk monitoring services to provide real-time monitoring for deteriorating business credit items such as:

  • A negative change in credit score
  • Additional UCC filings
  • Recent bankruptcies
  • Adverse environmental issues on the property securing the loan
  • Plus a number of other risk areas

Any time an alert on your borrower is received, it will be sent to you via email, along with an explanation of the meaning, and suggestions for appropriate follow-up.

These frequent updates give credit unions an improved means of knowing whether there are adverse events that occur for their borrowers. This is an excellent credit practice, and of great value when talking to your examiners.

To learn more about CUBG’s enhanced risk monitoring services, email us at riskmonitoring@cubg.org.

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