CU*Answers, the 100% credit-union owned, cooperative CUSO, headquartered in Grand Rapids, Michigan, has been a reseller of Accenture Mortgage Cadence’s LFC mortgage origination system since 2007. Over the last six months, five new clients of CU*Answers’ core platform came on board to use Mortgage Cadence for their mortgage originations: Western Division CU, Riverview CU, MyPensacola…
The team at CU*Answers has offered semi-virtual collections roundtable offerings for a few years now. “Over the years, our Collections Roundtable events have become very popular,” said Jerry Collins, manager of the collections team at CU*Answers. “Many of the clients were not able to visit us geographically, so we decided to offer a virtual option…
The Lender*VP Collections team at CU*Answers has added another client to their expanding list bringing the current total to 24. $181M-BlueOx Credit Union based in Michigan has over 22,000 members. “We are excited to see credit unions reaching out to us for all types of reasons including restructuring,” said Jerry Collins, the collections manager. The…
Lender*VP Forms completed the annual update for its risk-based pricing forms (The Price You Pay for Credit). The graphs and scoring ranges have been updated with the 2019 FICO information received from the credit bureaus for each FICO model supported. The CU*Answers lending division also included the new graphs to support the new Vantage Score…
The CARES Act, introduced by Congress in March in response to the financial hardships incurred as a result of the current pandemic, was created in part to provide funds to small businesses. The Paycheck Protection Program (PPP) is one that credit unions can participate in as of way of helping business members. The PPP loans…
The Lender*VP Collections team at CU*Answers has added a returning client to their list bringing the current total to twenty-three. The $12 million credit union based in Michigan has over 1,700 members. “We are excited to see that credit unions know the importance of managing their collections portfolio,” said Jerry Collins, the collections team manager.…
The VantageScore model was introduced in 2006 and developed by the three credit bureaus: Equifax, Experian, and TransUnion. It works differently than the FICO model where it uses an identical algorithm at all three of them. If each bureau had the same trade lines reported, the score would be identical from bureau to bureau. Beginning…
Imagine being able to open a new loan with the click of a button. That is what CU*Answers has on the horizon with instant CD-secured loans through online banking. The feature works by securing unpledged certificate funds to instantly qualify for a loan in that amount. The member is presented with the loan terms in It’s…
CU*Answers, the 100% credit-union owned, cooperative CUSO, headquartered in Grand Rapids, Michigan, has their first CU Direct LOS integration with First Financial Credit Union. First Financial Credit Union headquartered in Skokie, IL, is home to upwards of 9,000 members and $96 million in assets. First Financial was very active in the creation of this new…
CU*Answers, the 100% credit-union owned, cooperative CUSO, headquartered in Grand Rapids, Michigan, has completed its first integration with CUDL from CU Direct. CU*Answers is now offering integrations with CUDL as a standalone indirect, and with Lending 360 the full loan origination platform from CU Direct. Honor Credit Union (Berrien Springs, MI) went live with the…