The $1.3 billion Arizona Federal Credit Union said 22 online applications for mortgages were submitted in the first week it was linked to the regional CU Members Mortgage online application service.
That was before the program was officially launched, the 171,000-member Arizona FCU said of its new partnership with CU Members Mortgage, a Dallas-based provider of mortgage services to credit unions.
“Retained servicing, an online application, and onsite loan officers were all a high priority for our credit union as we considered a new direction to grow our program. Our focus is always our members and we wanted a program that offered more resources and ease for home lending,” said Ann Burns, vice president of ending for Arizona FCU in Phoenix.
CU Members Mortgage provides a customized home loan application from the credit union’s website.
“Like Arizona FCU, we were pleasantly surprised by the initial number of online applications that came in the first week – especially since the credit union has never had an online solution before,” said Linda Clampitt, senior vice president at CU Members Mortgage. “We also received 165 phone calls the first week prior to launch of the program.”
CU Members Mortgage said it now provides mortgage services to more than 1,000 credit unions, CUSOs, and leagues and originates more than $2 billion in FHA, VA and conventional loans a year.