Small Ohio CU Deploys Mortgage Tools
MASSILLON, Ohio -- Superior Savings Credit Union is now using the FirstClose bundled mortgage settlement platform to help automate the $11 million CU's mortgage operation.
Superior Savings is using the solution from Texas-based First Lenders Data Inc. to pull credit reports, flood zone determinations, automated valuation models and Equiguard, an alternative to title reports for home equity and second mortgages.
"FirstClose has helped us combine many of our settlement services into one platform and we have already started saving time and money. We went from closing loans in 30 days to closing loans in five days, at a savings of approximately $350 per loan," Lorie Jackson, operations manager at the 2,500-member CU, which went live with the solution on Feb. 1.