*Where Is Innovation Happening Today?*
**By Tony Garritano**
***As I talk to lenders they tell me that they’re stuck. They see new technology but they’re not sure that now is the right time to buy. So, what are they willing to buy? They want new and innovative technology that ensures compliance and risk mitigation. That technology is selling fast. For example, Alliant Credit Union, of Chicago, has selected LenderLive Network for its retail loan fulfillment (processing, underwriting and closing). Alliant also has deployed LenderLive’s eOriginatorplatform as part of their retail origination platform and correspondent loan delivery system, enabling the credit union’s loan officers to take loan applications and its correspondent lenders to upload loans directly to Alliant for LenderLive to perform an underwriting review. Here’s the full story:
****As one of the top 10 largest credit unions in the country with assets of over $8 billion and more than 280,000 members, Alliant has a long history of providing mortgages to its members. By outsourcing mortgage services to LenderLive, Alliant is able to focus on growing their mortgage business without having to assign internal resources to process fulfillment and provide regulatory updates.
****“Partnering with LenderLive was an easy decision to make,” said John Sweitzer, mortgage production manager for Alliant. “The company has the sophisticated technology we needed, as well as established key relationships with many of our business partners which is paramount to our success. When considering a company to do business with, we knew what we did not want based on previous experience. LenderLive has the key ingredients that made the company a natural fit for us.”
****“Community-based lending is vital to the financial industry’s future, and credit unions continue to emerge as valuable mortgage market players,” said Rick Seehausen, CEO of LenderLive.
****Alliant is dedicated to consistently providing financial value through offering high returns on deposits and low interest rate loans. The credit union provides exclusive, lifetime benefits to employees and retirees of United Airlines and select business affiliates, employee groups, qualifying communities, family members and domestic partners.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.