SALT LAKE CITY – University First FCU has implemented the integrated platform of Mortgagebot’s Enterprise end-to-end lending platform.
“We chose Mortgagebot for its point-of-sale simplicity and powerful online member-facing application, and we chose its back-end LOS for its streamlining of the loan process, its ease-of-use and state-of-the-art performance,” said Joseph Boekweg, vice president of lending for the $550-million credit union.
Streamlined loan processing was a primary factor in University First’s decision to adopt the technology, it said. The credit union plans on using the same number of origination staff to handle an expected two-fold increase in monthly loan production. University First said its confidence in efficiently managing loans derives from the integrated systems’ combined efficiencies, including interfacing and automated features such as credit checks, flood certification and data entry. For example, the new system reduces the time the credit union’s staff devotes to pulling loan documents by nearly 85%, from 30 minutes to five minutes, according to Boekweg.
Mortgagebot is a unit of Toronto-based Davis + Henderson.