Credit Union Grows And Picks A New LOS

*Credit Union Grows And Picks A New LOS*
**Industry Growth**

planting***More and more credit unions have entered and/or beefed up their mortgage presence over the past few years. As they have more success, they find themselves needing more advanced technology. Along these lines, PROGRESS in Lending has learned that Royal Credit Union, based in Eau Claire, Wisconsin, will now be using the Mortgage Cadence Symphony platform to further its already robust mortgage lending strategy. Here’s why they chose Symphony:

****Symphony is one of two Enterprise Lending Systems offered by Mortgage Cadence. “Achieving our long-range mortgage objectives, which double lending volume in the coming years, requires robust technology that makes financing easier and more convenient for our large and growing membership. At the same time the system on which we build our strategy has to make us more efficient, eliminate paper, increase quality and assist us with compliance in this increasingly demanding regulatory environment,” stated Brandon Riechers, EVP/Chief Lending Officer, Royal Credit Union. “We are confident Symphony from Mortgage Cadence will meet these demands, both now and in the future,” he continued.

****Royal is one of the largest lenders in the Chippewa Valley region with aggressive expansion plans for the St. Croix Valley as well as the Twin Cities. “Covering a large geographic area, even with our extensive branch network, requires a readily accessible platform that members and our loan officers can use wherever they happen to be and whenever it’s convenient,” said Matt Gerber, RCU Home Loan Sales Manager. “Prelude, the brand new consumer and loan officer portal from Mortgage Cadence, offers internet lending availability while helping our loan officers maintain a close connection with our members. Each loan officer has their own web page where they can direct members, help members originate and keep members informed throughout the mortgage cycle. The fact that Symphony is an all-in-one cloud-based system makes it possible, and also makes it unique,” he concluded.

****Mortgage Cadence released Prelude, the newest version of its consumer origination portal, on March 9. Prelude works seamlessly with Symphony; borrowers and lenders alike give it high marks for usability, design and the way in which it simplifies applying for a mortgage loan.