Lender*VP Announces 8 New Clients to Use Prime Alliance

Lender*VP is proud to announce 8 more credit unions are expecting to use Prime Alliance’s web-based mortgage application solution in 2009.

Through its partnership with Prime Alliance, the CUSO is able to provide a streamlined mortgage application and processing tool which allows lending staff to process loans wherever they are working- main office, branches, or remote operations. This easy-to-use web application offers convenience for members, as they are able to apply for first and second mortgages and receive a printed loan approval on the spot. Full electronic integration between Prime Alliance platforms and CU*Answers’ core processing system CU*BASE provides a seamless processing solution in which loan data is imported automatically into CU*BASE, and readily available to be verified and the loan funded. This integration saves hours by eliminating the need to transfer data from one system to another, as well as paper-shuffling and file storage costs. CU*Answers provides initial setup as well as ongoing training and support. This service assists credit unions in being mortgage experts and helps them build full-service relationships with their members.

Andy Tarbox, Vice President of Lending and Information Systems at Western Credit Union says: “It is refreshing to finally have a mortgage LOS that can take an application from the web, process the loan to closing and load on the servicing platform without the need to re-key any data. Prime Alliance has an exceptional level of integration including credit reports, underwriting systems, automated initial disclosures, electronic filing cabinet, one click title appraisal order, and state specific electronic closing packages. The web-based application has been well received by our members. In about 15 minutes a member can enter their loan application, receive an approval, and get the initial disclosure package 24 hours a day, 7 days a week. The robust nature of the software has allowed us to increase and expand the volume and sophistication of our mortgage business without increasing our processing staff.

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