Lending Solutions Inc. said it has processed its five millionthloan application. The Elgin, Ill., company said the milestoneapplication was processed on Monday for the $77 million WichitaFederal Credit Union.
|The Kansas credit union has been a client since 2007, LSI said.The company began processing loans by phone in 1995, the same yearits founder, former Baxter Credit Union CEO Rex Johnson, opened hisUniversity of Lending.
|LSI has since expanded into online lending, indirectunderwriting, mortgage operations, collections, outbound services,disaster recovery and complete member service transactions.
|LSI opened a 20,000-square-foot contact center in Naperville, Ill., in 2012 and now employs more than 420 peoplethere and at its Elgin center, the company said. The companyrecently established an employeestock ownership plan.
|LSI said it now provides 24-hour service to more than 300 creditunions, banks and mortgage companies.
|“Five million loan applications is a huge milestone forLSI,” CEO Lee Kolquist said in the company's announcement. “Thankyou to all of our credit union clients for the trust you've placedin us over the years in serving your members as your 24/7branch.”
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