Credit Union Turning to Technology

Credit Union Turning to Technology

first_img Share in Data, Government, Origination, Secondary Market, Servicing, Technology Agents & Brokers Attorneys & Title Companies Company News Investors Lenders & Servicers Processing Service Providers 2011-09-21 Abby Gregory “”Digital Federal Credit Union””:https://www.dcu.org/index.html (DCU) is enhancing its technology platforms with the help of “”LenderLive Network Inc.””:www.lenderlive.com With the use of LenderLive’s loan fulfillment program, DCU will now have improved processing, underwriting, and closing procedures.[IMAGE]DCU, the largest credit union in New England, serves clients in all states nationwide, and the company cites rising demand as the chief catalyst behind selecting the new software initiative. The company boasts an estimated $3.8 billion in assets and is among the country’s largest entities of its kind based on the volume of mortgage loans it originates.Elaborating on DCU’s recent growth in its mortgage lending division, vice president of the mortgage division, Scott Auen, said, “”We wanted a business partner that had the experience,[COLUMN_BREAK]the staff and the technology so we could best meet the needs of our members. Our members expect the highest level of service, and we want to assure them that during the fulfillment process we are compliant with all of the latest regulatory changes. LenderLive helped us achieve those standards in addition to supporting our institution with the flexibility to cost effectively expand our mortgage footprint.””The key additions DCU expects from LenderLive’s platforms include faster processing of loans, lowered overhead operating costs related to mortgage lending, and greater ease of access and information flow. Rick Seehausen, CEO of LenderLive, said of DCU’s choice to utilize the company’s products, “”Community lending is vital to the future of the financial industry and credit unions, such as DCU, have emerged as a valuable player in the mortgage market. That is why it is important to support them with the resources to better respond to increased demand for services. Our comprehensive fulfillment services help institutions, including DCU, scale operations more quickly and provide immediate access to expertise for a quality experience, which is paramount in today’s market.””DCU is a full-service, not for profit financial institution based in Marlborough, Massachusets, and the credit union serves more than 340,000 members around the U.S. Colorado-based LenderLive offers technological advantages through its five divisions, which include origination, conduit, document, settlement, and loan services; the company focuses on loan purchase operations for lenders of all sizes.center_img Credit Union Turning to Technology September 21, 2011 420 Views last_img

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