What can RDN do for a Lending Institution?
RDN’s software application is a two-way e-commerce network and communication platform that extends electronic connectivity into a segment of a lending institution’s business where there was previously very little penetration. RDN can be utilized as a complimentary tool to existing legacy collection software systems, or can create tremendous efficiency by being integrated directly into the lender’s legacy collection system. The network creates value by aggregating lending institutions and collateral recovery service providers resulting in marketplace liquidity (a critical mass of lenders and service providers), thereby creating benefits for both parties. Such benefits result in the further creation of value by reducing search costs, reducing transfer costs, standardizing systems, and improving matching for both lenders and their recovery related service providers. Lenders benefit because they have more choices and service providers benefit because they have greater access to lenders.
Related Questions
- Can RDN be integrated into a lending institutions legacy collection software so that collectors do not have to log into the RDN Global Client interface?
- Does a consumer need to be concerned with what is in the appraisal document as long as it satisfies the needs of their lending institution?
- Our lending institution provided a downpayment grant for a household that is now facing foreclosure. What is the members responsibility?
