Lender*VP, a division of CUSO CU*Answers, recently announced that it has updated more than one million credit records through its soft pull credit score service for 72 participating clients since the beginning of the 2017 fiscal year starting October 2016. The service is available to credit unions on the CU*BASE® core processing platform and provides…
CU*Answers, the 100% credit union owned, cooperative CUSO, is getting prepared for the Military Lending Act that takes effect on October 3rd, 2017. The Lender*VP Forms team at CU*Answers is helping credit unions map their credit card forms in CU*BASE® so they are in compliance. CU*Answers encourages all credit unions to check with their forms…
247 Lender is a CU*Answers-owned decision model that allows credit unions to provide automated approvals 24 hours a day, 7 days a week. To offer this service, the West Michigan-based CUSO partnered with the Portfolio Defense Consulting Group, a recognized expert in consumer credit risk management and modelling. Using data from booked credit union loans,…
CU*Answers successfully rolled out CU*BASE® changes to comply with the new Fannie Mae reporting requirements. Lender*VP and Xtend Mortgage Servicing hosted two separate information webinar sessions to prepare FNMA seller/servicers for the investor reporting changes effective February 2017. “We have been busy over the last year making the appropriate changes to comply with the new…
CU*Answers has started a new way to offer their collections services resulting in a growing client base. A $200 million credit union has agreed to hire CU*Answers to work their early stage delinquent accounts. “Clients don’t always need a permanent solution and not doing collections for a period of time is costly and unnecessary now,”…
CU*Answers, a West Michigan-based cooperative CUSO, announced that its Collections division has added its first client on the West Coast. Partnering with CU*NorthWest, Lender*VP Collections will serve a California credit union. “The credit union was looking for someone to expand their team, but had a limited budget and room. By leveraging our team to work…
The Lender*VP Collections team at CU*Answers has added another client to its existing client base of fourteen credit unions. A Northern Michigan credit union selected the CU*Answers team to help them consistently work their delinquent loans portfolio. “This client was considering re-staffing their in-house collections team and opted to work with our team to create…
West Michigan based core processor, CU*Answers recently hosted an informational webinar on Mortgage Servicing for our CU*BASE clients. Lender*VP, in collaboration with Xtend mortgage servicing, offers escrow processing and investor reporting services for its credit unions. For a nominal monthly fee, the team is able to reduce the burden on credit union staff by providing…
Lender*VP Forms, a division of CUSO CU*Answers, has been busy preparing for the Military Lending Act (MLA) which goes into effect October 3rd, 2016. The MLA is a regulation initiated by the Department of Defense designed to protect active duty service members from high-interest loans. As part of the Act, active duty military personnel protected…
The Lender*VP Collections team at CU*Answers has added its fifteenth client for which it manages day to day collections efforts. $4 million The Finest FCU based in New York City marks an entry into a new geographic region for the Lender*VP Collections team. “We’re excited to provide our services to a New York-based credit union,”…