Credit Unions In The CUSG Network Turn To Automation

CU Solutions Group (CUSG), a credit union service organization, and NestReady, a technology firm that uses integrated software platforms that bridge the gaps between consumers, mortgage lenders and real estate professionals, have developed a new partnership that gives CUSG the exclusive rights in the credit union association space to NestReady solutions. As part of the agreement, CUSG is also investing in NestReady, and will expand and enhance the delivery of NestReady solutions to credit unions. 

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NestReady offers full, end-to-end solutions for every aspect of the home buying experience and can be seamlessly integrated into a credit unions mortgage lending process. Benefits for credit unions include earlier relationship-building with home buyers, detailed member insights, better targeting, higher conversions and substantial savings on mortgage brokers’ referral fees.  

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Other benefits include:

  • Digital brand engagement growth with high-quality audiences and increase in organic homebuyer traffic;

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  • Membership increase through cross selling;
  • Machine learning powered customer intent-based marketing;

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  • Artificial intelligence (AI) powered sales activities automation;
  • Loan officer personal real estate platforms;
  • Homeownership engagement platforms for next move identification; 
  • CRM integrated actionable insights; and 
  • Mobile first technology.

“It has long been CUSG’s mission to provide credit unions with solutions that enable them to better serve their members, especially at pivotal life decisions such as purchasing a home,” said Dave Adams, president/CEO of CU Solutions Group. “In today’s changing market, credit unions are always looking for new and valuable resources to help their members. Our agreement with NestReady will connect credit unions with a partner that not only provides the online home search capability that members have come to expect, but also resources that simplifies the home buying process.”

CU Solutions Group is a credit union industry leader in providing technology, marketing, HR performance and strategic advisory solutions to more than 3,400 clients nationwide. CUSG will leverage its existing product suite and client base to coordinate marketing and sales of NestReady solutions.

“Using AI and machine learning to create transparent environments that allow loan originators at credit unions and real estate professionals to collaborate will create a stellar homebuying experience for members,” said Mauro Repacci, co-founder and CEO of NestReady. “Our platform eliminates pain points in the homebuying process and gives loan originators the chance to deepen their relationship with members.”

CU Solutions Group is an award-winning credit union service organization that offers products and services in the areas of technology, marketing, HR performance and strategic advisory, which include web services, mobile app solutions, digital advertising, Save To Win, Love My Credit Union Rewards, Performance Pro and Compease. The company has more than 100 investors comprised of credit unions, credit union leagues and credit union system organizations. Headquartered in Livonia, Mich., the organization has strategic partnerships with Sprint, Intuit TurboTax®, GSTV and CU Vendor Management. 

CUNA Mutual Group Acquires CSi

CUNA Mutual Group announced the acquisition of Grand Rapids, Mich.-based Compliance Systems, Inc., a privately-held technology company specializing in compliance technology for financial services, to expand the company’s lending technology capabilities.

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Compliance Systems is a provider of financial transaction technology and compliance expertise. The company provides technology that enables delivery of loan, deposit, and other transaction content in adherence with compliance regulations. Compliance Systems’ solutions complement CUNA Mutual Group’s long-running LOANLINER business that credit unions utilize to stay on top of regulatory changes related to their transaction content.

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“Our vision is to transform and modernize our existing document services, elevating our ability to support the needs of credit unions through a simpler and more accessible solution for our customers,” said Robert N. Trunzo, CUNA Mutual Group president/CEO. “At the same time, Compliance Systems will continue to expand and grow within the banking and lending industry that they serve today.”

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With more than 25 years of experience, Compliance Systems currently supports content configuration, data analytics, and compliance risk management for more than 1,400 U.S. financial institutions with a warranty to cover all 50 states and the District of Columbia.

“The opportunity to bring our solutions to more than 5,600 credit unions, on top of our current growth trajectory in the industry, provides us with a path to grow very rapidly,” said Dennis Adams, president/CEO, Compliance Systems.

QRL Leverages DocMagic’s eVault Technology To Purchase eNotes

QRL Financial Services (QRL), a nationwide provider of residential mortgage lending services for community banks and credit unions, has leveraged DocMagic’s eVault technology to purchase eNotes.

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Implementing an eVault means QRL can increase new business by extending its reach to lenders that are ready to implement eClosings and sell eNotes. In addition to providing improved service, they will competitively position themselves for the future. The deal will make QRL one of the first investors outside of the GSEs to begin purchasing eNotes.

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“QRL is a farsighted organization, and by implementing eVault technology now, they stand to capitalize on marketplace opportunities as eNotes continue to gain adoption,” stated Dominic Iannitti, president and CEO of DocMagic. “We tend to partner with early adopters like QRL, who will reap the benefits of their industry insight. We look forward to the success they realize by utilizing our eVault and supporting technology.”

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Because QRL is using DocMagic’s SmartDocs, all documents retain a tamper evident seal to ensure data and document integrity. Using static documents, that don’t include SmartDoc transactional (XML) metadata, means some organizations have the difficult, costly and time-consuming task of confirming that data and documents are in sync.

“Offering a truly paperless solution is the future. Consumers will expect and demand a closing experience that is more timely, convenient and informative,” says Alex Rivera, managing director at QRL Financial Services. “QRL’s ability to purchase and service eNotes will allow the credit unions and community banks that we service to stay ahead of the technology curve as they compete with the larger institutions in the race to improve the mortgage experience.”

The solution will also create greater secondary market process efficiencies because of reduced cycle times. QRL will be able to fund faster with fewer post-closing document issues.

Four Credit Unions Partner With myCUmortgage

Four credit unions recently partnered with myCUmortgage as they strive to become better mortgage lenders for their members. myCUmortgage is a leading Credit Union Service Organization (CUSO), wholly-owned by Wright-Patt Credit Union.

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With the new partnerships, these four credit unions will not only have access to industry-leading service and support tools and systems, but more importantly, will benefit from what truly sets myCUmortgage apart from the rest: true collaboration, transparency and a keen focus on credit union members.

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The new myCUmortgage partners include:

>>Central Susquehanna Federal Credit Union – Pennsylvania

>>Crane Credit Union – Indiana

>>G.H.S. Federal Credit Union – South Carolina

>>Towns Union Educators’ Federal Credit Union – Georgia

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“At myCUmortgage, we don’t take our partnerships with credit unions lightly,” said Tim Mislansky, President of myCUmortgage. “What these four new partners will soon realize is our relentless pursuit of building strong relationships with their teams and providing the level of service that the credit unions and their members expect and deserve.

“We are very excited to welcome these four credit unions to the myCUmortgage family,” added Mislansky.

By partnering with myCUmortgage, credit unions are able to provide members with a wide variety of mortgage loan programs to fit their needs as well as truly member-centric service and support. Backed by 15 years of mortgage industry experience, myCUmortgage is dedicated strictly to the credit union mortgage industry and helping partner credit unions help their members enjoy the benefits and pride that come with owning their own homes.

Helping To Educate The Industry

myCUmortgage will hold its 12th Annual Partner Conference on Oct. 18-20, 2016, in Dayton, Ohio. The conference, which is open to all myCUmortgage credit union partners, provides attendees valuable industry knowledge through insightful presentations, an inspiring keynote address and a variety of networking opportunities. myCUmortgage is a leading Credit Union Service Organization (CUSO), wholly-owned by Wright-Patt Credit Union.

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Categorized by attendees as a first-class event with top-notch content, the theme of this year’s conference is “Driving Success: Shift Your Mortgage Business Into High Gear.” The conference is an ideal opportunity for credit unions to learn about the latest news and trends in the mortgage industry, exchange information with fellow credit union mortgage representatives, pick up best practices and tips for working with members, and network with industry leaders.

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“myCUmortgage is committed to helping our partners drive success in their mortgage businesses and making them better mortgage lenders,” says Tim Mislansky, President of myCUmortgage. “The annual Partner Conference delivers the information they need to help their members become home owners—it really is a must-attend event for credit union mortgage lenders.”

This year’s conference features an excellent line-up of mortgage industry experts and business leaders who will provide insight and knowledge on various facets of the mortgage lending business.

Here’s An Interesting Way To Reach Borrowers …

Maine Savings is the only Maine credit union to offer eligible home-buyers up to $15,000 in down-payment and closing costs through participation in the nationwide Equity Builder Program.

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The Equity Builder Program, provided through The Federal Home Loan Bank of Boston (FHLB), will be offered for a limited time and is available to individuals or households with incomes at or below 80% of HUD Area Median Income based on property location. According to the FHLB, since the program’s inception, nearly 2,500 home-buyers have been assisted.

“Rents are increasing and the dream of home-ownership seems out of reach for many. But this program will help bridge the gap for some who are close to being able to buy a home, but who may need a little extra assistance to get there,” said John Reed, Maine Savings President and CEO. “We take very seriously our role in helping members of our communities achieve the goal of home ownership.”

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Recipients must attend a home-buyer education and counseling program. The Equity Builder Program may be eligible to be combined with other loan programs, including the 10% down-payment CU Promise loan, which Maine Savings offers.

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Partnership Offers Portfolio Review Service for Credit Unions

MemberClose, a provider of a one-stop, bundled, home equity and mortgage-settlement solution to credit unions in the U.S. and LoanLogics, a technology to assist in loan quality management and performance analytics, have created an automated portfolio review service designed to meet the needs of credit unions. Here’s how it works:

The offering will enable users of MemberClose to acquire new loan management and assessment functionality that promises to further enhance the value of the MemberClose Home Equity and Mortgage Settlement software platform. A credit union can upload loans to LoanLogics’ LoanHD Loan Performance Management platform via a secure interface located on the MemberClose’s website. The LoanHD system will perform a sophisticated analysis of the loans, which is then delivered in easy to understand language through the MemberClose platform.

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MemberClose users will benefit from the ability to run portfolio reviews and assess the amount of potential risk inherent in the credit union’s home equity lending portfolio. In addition, this partnership will also provide discounts for credit unions that wish to further tap additional capabilities provided by LoanLogics through its LoanHD platform.

“I’m excited to be able to deliver this valuable tool through our partnership with LoanLogics,” said Bob Delaney, Chief Operating Officer of MemberClose. “This new service will enable a credit union to easily determine any change in the risk profile of its borrower as it relates to credit, property value or lien position. LoanLogics is the premier provider of loan analytic tools to lenders and the perfect company for us to partner with for this service.”

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“The aim of this partnership is to ensure that credit unions have the technology they need to serve their members and comply with regulations. In addition, it means that credit unions of any size have access to the same technology as the largest mortgage lenders and that levels the playing field,” said Brian K. Fitzpatrick, president and CEO of LoanLogics. “Increasingly, credit unions are recognizing that they need to proactively monitor their mortgage loan portfolios. LoanHD provides a cost effective, efficient technology that helps our clients stay compliant while reducing costs.”

In addition to life-of-loan performance management, analytics, monitoring and data refresh capabilities, LoanLogics also offers product eligibility and pricing, as well as a loan-quality management solution that automates and reduces the costs and risks associated with mortgage loan quality-assurance and quality-control audits.

The Mobile Revolution

Everyone is captivated with the new iPhones. So, the mortgage industry should take note and go mobile. For example, National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc., has launched a new credit union mobile application (app) as well as a new website specifically for credit unions. The mobile app enables users to run rate scenarios, view credit union-specific bulletins, and easily contact National MI personnel. National MI believes it is the first private mortgage insurer in the industry to create a credit union-specific app.

The new website for credit unions ( features National MI’s easy to use Online CU Rate Finder, which offers credit union members some of the most competitive rates in the industry.

“Credit unions represent an important segment of our customer base,” said Pete Pannes, executive vice president, chief sales officer with National MI. “We believe our new mobile app created specifically for credit unions, along with the industry-leading rate finder on our website, make it simple for credit unions to do business with National MI.”

Initial reaction from credit unions to the new website and rate finder has been positive. “Meriwest Mortgage works closely with our members to help them find the right mortgage, and is especially committed to helping first-time homebuyers get into their first home,” said Mark Antonioli, senior vice president, chief credit officer with Meriwest Credit Union. “National MI’s new tools for credit unions, including the comparison feature and the rate finder, make it easier than ever to help our members with their purchase mortgage or refinance needs.  We look forward to a continued relationship with National MI in helping our members find the best value.”

Credit unions are very focused on their communities and on finding the best possible value for their members, noted Pannes. “Both the app and the website provide credit unions with easy access to National MI tools and resources,” he said. “The launch of these new digital platforms demonstrates our commitment to helping credit unions meet the unique needs of their members in an extremely competitive mortgage market environment.”

The new credit union mobile app is available for download on the App Store and Google Play

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Lenders Want Complete Technology

Lenders are increasingly looking for a full solution. For example, Four Points Federal Credit Union has chosen D+H’s UltraDataEnterprise Core solution, along with additional integrated solutions from the company, including Cavion Internet Banking, Cavion Mobile Banking, Cavion Remote Deposit Capture, Item Processing Services, Touché CRM, MortgagebotLOS and MortgagebotPOS mortgage origination solutions and the Servicing Director loan servicing system.

“We looked for a partner who we believe has our best interests in mind, has a strong management team and is investing in the future, so we can focus on our core business – serving our members. D+H has a stellar reputation for support and innovation,” said Donnie Price, president and CEO of Four Points FCU. “We also plan to leverage the integration among all the D+H solutions to create a more seamless service experience for our members and our employees.”

Four Points Federal Credit Union, based in Omaha, Neb., selected D+H based on a combination of the extensive capabilities of the UltraData Enterprise Core Solution; its tight integration with the Company’s other channel, payment and lending solutions; and the Company’s reputation and proven track record surrounding client support and innovation.

“D+H is strongly positioned to help credit unions spend less time thinking about and deploying technology, and more time focusing on serving their members and building deeper relationships,” said Bill Neville, president of D+H USA. “By providing the best value for our clients’ technology investment, as well as first-class service, tight integration and product innovation, we enable credit unions to operate more effectively, while freeing them up to concentrate on their strategic objectives.”

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Credit Union Sees Big Growth

Richland, Wash.-based HAPO Community Credit Union (HAPO), with 1.2 billion in assets and over 109,000 members, has increased its loan origination and processing with the Velocity loan origination solution from Fiserv. This tool supports consumer, business, home equity and indirect loans all on the same platform, and integrates all of the essential system components required for lending success, including loan origination, decision support tools, workflow software and image capture capabilities.

An enhanced version of Velocity, Velocity 3.0, is currently in beta testing and will include improved system administration capabilities and improved data mapping of forms and standardized interfaces. “HAPO has built a reputation for making good loans to good people and the Velocity platform has given us greater control in offering a smooth, efficient lending process to our members,” said Scott Mitchell, Chief Lending Officer at HAPO. “We use the system to support multiple loan types, such as boats, RVs, secured lines of credit and dealer direct auto financing.

“The customizable workflow tools allow our staff to tailor the processes that work best for our organization. We’re also looking forward to deploying Velocity 3.0, which will provide the foundation for additional self-service options in our lending operation,” he concluded.

“Credit union employees often have to wear many hats, and HAPO is committed to delivering exemplary service to its members across each of those experiences. With Velocity, HAPO has been able to provide superior member convenience by eliminating manual steps throughout the origination process using just one system to support a wide range of loan types,” said Kevin Collins, president, Lending Solutions, Fiserv. “Velocity has the capabilities credit unions such as HAPO need as they adjust to the current loan origination landscape.”

Velocity is a pre-configured solution with features designed for small and mid-tier credit unions and community banks seeking to grow their business. Velocity simplifies and expedites loan closing and provides greater control over business operations by integrating with numerous account processing systems and an extensive array of third-party applications.