"This is critical for lenders who want to grow their businesses this year because the battle for borrower share is a zero-sum game."
If you are on LinkedIn and follow Dan Green, our EVP of Marketing, you’ve probably already seen his new article series on the 5 Key Performance Indicators that set the nation’s top lenders apart from all the rest.
In his most recent post, he goes deeper on Borrower Share, metric number 3.
This is critical for lenders who want to grow their businesses this year because the battle for borrower share is a zero-sum game. Only one lender wins; and no lender can afford to lose.
Borrower share is the ratio of loans closed from among existing customers to the total number of customers in the same calendar year. It is a clear indication of how well the lender is doing in terms of serving the prospective borrowers who are already customers of their institution.
After 6 years of studying the data from our Loan Origination Benchmarking Study, Dan understands how the metrics work. Find out more in this article on his LinkedIn article page. There is opportunity here. And Dan knows how to help your institution get it.