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Financial Institutions Fear Loan Loss Amidst Recession Predictions

Financial Institutions Fear Loan Loss Amidst Recession Predictions

By: Wendy Elieff, SVP Client Service and Marketing, TriVerity and The Loan Service Center Encountering extreme fluctuations in the economy can be threatening to financial institutions. With the recent inflation increase due to the Federal Reserve’s attempt to slow rising interest rates, we now see many concerned about a sharp slowdown. More specifically, financial institutions seem concerned about losses in loans impacting revenue, as shown in the Risk Management Association’s (RMA) survey reports. The RMA’s survey of over 100 lenders shows 84% expressing loan loss as a significant challenge...

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