Several mortgage service providers are offering financial services firms help originating home loans, and many are targeting banks and credit unions.
In making a transition from refinance business to purchase financing, Kitsap Credit Union turned to CU Members Mortgage. Kitsap used CU Members to help it restructure and retool its outdated operational processes.
In addition, CU Members is helping the $971 million financial institution comply with the requirements of the Dodd Frank Wall Street Reform and Consumer Protection Act. While CU Members originators are located on-site, loans are co-branded, and servicing is retained.
CU Members is online at www.cumembers.com.
A financial institutions partner group launched by Freedom Mortgage Corp. provides end-to-end mortgage outsourcing for regional banks, community banks and credit unions. Financial institutions can offer mortgage services without investing in technology or hiring, managing or training mortgage staff.
Plus, according Freedom Mortgage, its clients can avoid the risks associated with originating and servicing mortgage loans. The division handles all aspects of mortgage origination from initial customer contact through closing and servicing.
Freedom Mortgage’s website is located at www.FreedomMortgage.com.
Total Mortgage Services LLC announced late last year that its Total Mortgage Processing is an end-to-end mortgage processing platform targeted at mortgage lenders, community banks and credit unions as well as third party originators. The service reportedly helps clients originate more loans, scale capacity to market demands and increase profitability while enhancing service levels, remaining compliant and maintaining customer relationships.
The Total Mortgage website is at www.totalmortgage.com.
The Work Number processed more than 34 million verifications last year, up nearly 40 percent from 2012, a recent announcement from Equifax Workforce Solutions said. The service is reportedly compliant with the Fair Credit Reporting Act.
Information about The Work Number is at www.TheWorkNumber.com.
Crosscountry Mortgage Inc. recently said it is utilizing ACCOUNTCHEK to verify deposits and assets. The solution, which reportedly is the only such automated service, provides instant digital statements from more than 15,000 financial institutions.
Lenders can learn more at www.ACCOUNTCHEK.com.
The Warren Group’s mortgage market share reporting engine has been enhanced to provide more precise data, the Boston-based company announced late last year.
“Initially, the module provided ranking reports for total originations — both purchase and non-purchase,” the statement said. “Now, Warren MarketShare users can further rank by purchase and non-purchase volumes and even specify property types to include: office, single-family, condominiums, industrial, multi-use and more.”
The Warren Group is online at thewarrengroup.com.
