The $1 billion, 59,900-member Eli Lilly FCU in Indianapolis plans to convert to mortgage loan management software from Mortgage Cadence LLC this spring, the company and credit union said.
The cloud-based Symphony solution manages loans from origination through closing, including documents, imaging and secondary marketing and allows quick approvals and information access from any Internet-connected device, the company and credit union said.
"The traditional multi-system approach to originating mortgage loans inherently introduces inefficiency and inaccuracy. In addition, managing compliance has become increasingly difficult," said Elaine Rinehart, assistant vice president, Business Analysis and Applications, at ELFCU.
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