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.

About The Author


Tony Garritano

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

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

About The Author


Tony Garritano

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

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.”

About The Author


Tony Garritano

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

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.

Choosing The Right LOS

*Choosing The Right LOS*
**A Hard Decision**

thinking***Lenders continue to switch their loan origination systems. In this case, FORUM Credit Union has selected the MortgageFlex LoanQuest loan origination system for their mortgage and consumer lending needs. FORUM is headquartered in Fishers, Indiana and is the sixth largest Credit Union in Indiana. Here’s why they chose LoanQuest:

****FORUM was organized by the employees of Indiana Bell Telephone Company in 1941 and has more than 107,000 members and 12 branches located throughout Indiana. They have experienced many changes over the past 60+ years and have led the credit union industry in dedication to their members and innovative practices.

****In May 2012, they began a search for a new loan origination system culminating in the recent selection of LoanQuest. According to Brian Crum, vice president of lending, FORUM Credit Union, “MortgageFlex provides a flexible software solution that offers efficient and effective loan origination tools. Their configurable solution will improve our member’s experience and give us the flexibility to offer a wider range of products and adapt to the ever changing market.”

****FORUM also originates mortgages for other credit unions through its FIMI CUSO and has an active wholesale line of business, making a multi-channel origination system a necessity. The LoanQuest lending system accommodates retail and wholesale mortgages in addition to consumer loans and utilizes a single database that provides lenders with a comprehensive view of their customer’s financial situation. LoanQuest is delivered with integrated workflow, a robust product and pricing tool and an imaging center that allows users to clear conditions while viewing. All are driven by lender defined business rules that are easily configured.

****Equally important to FORUM was partnering with a vendor that has a proven track record. MortgageFlex has focused on the mortgage lending since 1980 and has earned industry recognition numerous times, with over 200 implementations to its credit. MortgageFlex’s experience was validated during FORUM’s due diligence process, “They have a great reputation as an experienced software provider in the industry”, Crum stated.

****MortgageFlex’s industry tenure gives them a distinct advantage over other vendors and they pass that experience onto their customers. “We’ve seen a lot of mergers, acquisitions, and closures among our competitors and we’ve learned from them. We’ve learned that you have to continue to improve your technology and listen to your customers. You have to be willing to work with them and incorporate their needs and best practices into a system that works for them,” said Craig Bechtle, chief operating officer, MortgageFlex. “To be selected by a progressive lender like FORUM after a yearlong due diligence is very gratifying and we are looking forward to a long-term partnership.”

Pondering A New LOS?

*Pondering A New LOS?*
**Most Lenders Are**

los-research***Veterans United, Columbia, Mo., has selected Ellie Mae’s Encompass360 as its mortgage management solution. Veterans United evaluated loan origination systems for more than a year before ultimately selecting Encompass360. Here’s why they made this choice:

****“We want to provide the best customer experience that a veteran or active military member will find anywhere,” said Leigh Ann Wanserski, chief operating officer of Veterans United. “When we look to bring in new partners, those decisions are always made with our customers as top priority. We absolutely have to ensure the home buying process will be faster and easier – that’s what we are hoping to see.”

****“Being selected by a discerning lender like Veterans United speaks volumes about the confidence they have in Ellie Mae and the advantages that our SaaS model combined with Success-Based Pricing bring to a business,” said Jonathan Corr, president and chief operating officer of Ellie Mae. “We’re always happy to be selected, but it is particularly gratifying when your software is being used to help veterans, who have given so much for their country.”

****Based in Columbia, Mo., Veterans United Home Loans is the nation’s No. 1 dedicated VA lender. The national lender financed more than $3.3 billion in loans in 2012. Its mission is to help veterans and active duty military members take advantage of the home loan benefits earned by their service. In 2012, Veterans United was named the No. 29 private job creator by Inc. Magazine and No. 21 best medium place to work by Great Place to Work. The company has 24 offices in 22 states.

Credit Unions Need To Keep Up

*Credit Unions Need To Keep Up*
**Tracking Innovators**

credit-union-racer***Credit unions are known for quality products and exceptional service, but are widely assumed to have subpar banking technology. Advanced services like mobile banking, however, are highly important to consumers, with 57 percent of U.S. smartphone owners using mobile banking features, according to a Compete report. Here are some exceptions:

****“There is a clear and urgent need for credit unions to develop online and mobile-friendly banking services for their members, especially with how fast technology evolves,” says Jennifer Calonia, GoBankingRates editor.

****GoBankingRates recently explored the popular types of banking technology used by consumers, and reveals some credit unions that are remaining technologically competitive in the financial services space.

****Credit unions on the list include:

****1. USC Credit Union

****The Southern California credit union is one of many nonprofit cooperatives to implement “mobile remote deposit capture,” the technical term describing the ability to deposit checks via a smartphone’s built-in camera. This feature, the investigation emphasizes, helps consumers by omitting the hassle of visiting a local branch to make a check deposit.

****2. Wright-Patt Credit Union

****Mobile applications such as the one created by Wright-Patt Credit Union do not simply exist for the sake of claiming a plot in the mobile banking space, according to the GoBankingRates report. The significance of this credit union’s mobile app is the rave reviews it has garnered from its users, and is regarded as having fluid functionality.

****3. Credit Union ONE

****While not fully launched as of present, the GoBankingRates discovered how Credit Union ONE is taking banking technology to the next level with a comprehensive online money management experience. The report reveals that upcoming features of the institution’s new online banking site will not only include account information but also provide budgeting tools.

****“At present, credit unions like the ones highlighted here are doing a great job at keeping their depositors interested, but as a whole credit unions need to keep this momentum going,” Calonia explains.