‘HYLS’ Reaches Milestone; Over 100,000 Loan Applications Submitted with Revolutionary Underwriting Guide

Elgin, IL – Thursday, January 27, 2011 – In December 2010, Lending Solutions Consulting, Inc. (LSCI) celebrated HYLS’s 100,000th submitted application.  The HYLS Underwriting Guide (High Yield Lending Strategy) is not only revolutionizing the way credit union’s approach lending, but more importantly, it is changing member’s lives.  The automated, online HYLS Underwriting Guide works by adjusting the traditional score.  It asks a series of 27 questions about a member’s finances – including entering the member’s credit bureau score and then recalculating it to show a new score that more accurately reflects the individual’s ability to repay now and in the future.

Rex Johnson, CEO of LSCI, created HYLS to help credit unions better serve all members and take more risk.  “Credit unions cannot survive without growing loans and loan yield.  Less focus has to be placed on the member’s credit score and more emphasis on the member’s qualifications and probability that the member will pay the credit union” Rex explained.

Johnson believes one of the most important factors of HYLS is that it will get employees more focused on decision making.  Sheboygan Area Credit Union’s CEO Mike Mallow agrees, “HYLS has been a tool that has helped us achieve our goals.  We have been very pleased with the results of integrating it into our loan officer’s decision making process.  HYLS helps them remember what they have learned over the years to not only make them better, but help make their decisions better.”

Karen Church, CEO of ELGA Credit Union, uses HYLS on every loan decision.  “HYLS has helped us achieve a much better interview process with our members.  It has also helped us to understand how important the credit union relationship and their stability is when it comes to approving a loan.  We have seen our lender’s confidence increase with HYLS, having approved more loans with the help of this Guide.”

According to Karin Brown, VP/Consultant Lending Solutions Consulting, Inc., HYLS also has significant benefits for credit union collection departments.  “On the collections side, we use HYLS when trying to restructure a loan for troubled borrowers.  Sometimes it’s more difficult to find solutions for these members.  Using HYLS can help us identify and focus on the positives helping to find a solution that will help a member pay the credit union” said Karin Brown, VP/Consultant Lending Solutions Consulting, Inc.  “Credit unions are granting more loans and experiencing less delinquency and charge-offs because HYLS is showing them how to build a loan that they might normally turn down” Rex Johnson adds.

“Since the launch of HYLS in March 2010, over 120,000 applications have been calculated.  Everywhere we have demonstrated and tested HYLS, the feedback has been overwhelming and extremely positive.  Based on this feedback, we believe that HYLS will become the number one underwriting guide in the financial industry.  We project for the month of January alone, there will be over 15,000 applications submitted” Rex Johnson noted.   

For more information on the HYLS Underwriting Guide, contact:  800.937.4249 or visit:

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