Mortgage services provider enabling CU to effectively scale lending operations, grow footprint
DENVER, Sept. 21, 2011 – Digital Federal Credit Union (DCU) has selected end-to-end mortgage services provider LenderLive Network Inc. for its loan fulfillment (processing, underwriting and closing) needs. As an increased number of consumers turn to credit unions for more of their financial needs, institutions such as DCU are looking for ways to expand their mortgage offerings without significantly increasing overhead costs.
DCU is the largest credit union in the New England region, lending in all 50 states to serve its more than 340,000 members nationwide. With $3.8 billion in assets, it has experienced explosive growth recently in its mortgage lending division. DCU is one of the top credit union originators in the country by volume and selected LenderLive to better manage its increasing loan capacity.
"We wanted a business partner that had the experience, the staff and the technology so we could best meet the needs of our members," said Scott Auen, vice president of mortgages at DCU. "Our members expect the highest level of service, and we want to assure them that during the fulfillment process we are compliant with all of the latest regulatory changes. LenderLive helped us achieve those standards in addition to supporting our institution with the flexibility to cost effectively expand our mortgage footprint."
LenderLive’s experienced, licensed staff appealed to DCU as did LenderLive’s ability to help the credit union expedite its time to market while reducing its capital investment.
"Community lending is vital to the future of the financial industry, and credit unions, such as DCU, have emerged as a valuable player in the mortgage market," said Rick Seehausen, CEO of LenderLive. "That is why it is important to support them with the resources to better respond to increased demand for services. Our comprehensive fulfillment services help institutions, including DCU, scale operations more quickly and provide immediate access to expertise for a quality experience, which is paramount in today’s market."
About LenderLive Network Inc.
LenderLive is a domestic-based mortgage services provider. Through its five divisions—origination services, conduit services, document services, settlement services, and loan servicing—LenderLive offers the people, technology and processes to support our clients’ origination, servicing and loan purchase operations. From large-scale, centralized operations centers, the company provides services to financial institutions of all sizes on a national basis. With tens of millions of transactions processed through its expansive service offering, LenderLive offers the vision, experience and innovation on which financial institutions can rely.
About DCU
DCU is a full-service, not for profit financial institution cooperatively owned by and operated for its members based in Marlborough, MA. Since being chartered in October 1979, DCU has been chosen as the credit union for employees and members of more than 700 companies and organizations along with their families. DCU has assets of over $3.8 billion and serves over 340,000 members in all 50 states.
For more information about DCU, contact John LaHair at 800.328.8797 ext. 6887 or visit www.dcu.org.