The Financial Column — Smart Growth in Home Equity Lending

2010-08-08

Branch representatives need to become adept at understanding and responding to customers needs.

Today, some major banks are generating more than half of their home equity sales volume through the branch system. In turn, branch representatives will need to play a leadership role in understanding customers and responding to their needs. Combined with specialized expertise, this type of advocacy will be vital in attracting new business — and to retain valuable customers already with the bank. Households want to make sure that they can secure a home equity loan without having it coming back to bite them somehow. This reinforces the role of the branch representative as an adviser and counselor.

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