Credit Union Journal Daily Briefing  |  Tuesday, August 31, 2010

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RANCHO CUCAMONGA, Calif. – CO-OP Financial Services said yesterday its CO-OP Member Center has signed with CU Direct Lending to offer CUDL’s new Lending 360 Loan Origination System (LOS) underwriting solution for its lending services, in a partnership to streamline loan origination work flow.

CU Direct said its new lending software will provide CO-OP Member Center and its clients with a single, distinct lending platform designed to fully support loan application processing activity across all lending channels. The software is scheduled to be online with CO-OP Member Center by early 2011.

The new software incorporates CU Direct Corporation’s CUDL Decision Manager decision engine, as well as a new customizable workflow engine, enabling CO-OP Member Center to work with its clients to structure a work flow that includes commonly adopted underwriting rules and customized rules to meet the credit unions’ unique lending criteria.