The high level of US home ownership creates many opportunities to sell loan products. Promotion of home ownership by government sponsored entities as well as creative mortgage products and fair lending initiatives continue to make mortgages available to more people. However, after several years of record volume, the consumer finance industry is facing many challenges: demand is down, competition is up, subprime markets have matured, and many customers are viewing loan products as a commodity. As such, some companies are pricing at a loss or merely squeaking out a few basis points on operational savings. But successful consumer finance companies are taking action with strategic considerations in areas such as customer needs, new products, product differentiation, outsourcing and scalability.
The PricewaterhouseCoopers consumer finance group is a national business advisory and audit practice of over 100 fully dedicated professionals across the country solely dedicated to serving clients in the mortgage banking, credit card, home equity, student loan, manufactured housing and other related consumer finance industry sectors. We focus on enhancing the core competencies of these companies such as exceptional customer service, a comprehensive package of service offerings, efficiencies of scale, interest rate risk management, cash management, risk management and controls assessment, effective utilization of technology, accounting and auditing, and asset quality management.
The top industry players view us as a trusted and experienced advisor. Our focus is on the strategic and technical aspects that impact the industry, as well as anticipating industry trends, sharing best practices and benchmarking information, and solving complex business problems.
