The $1 billion Truliant Federal Credit Union is replacing its mortgage origination system with the Loan Producer system from the Dallas-based Financial Industry Computer Systems, Inc., and plans to implement FICS' Mortgage Servicer and eStatus tools later this year.
"As our search for a new loan origination system began, we quickly learned that FICS was the only provider that offered both an origination and servicing system, which is important to us for future growth as we plan to implement the servicing solution later this year," said Vicky Slate, real estate lending manager for the Winston-Salem, N.C.-based credit union.
Truliant credited its decision to the system's ability to handle a growing portfolio of mortgage loans, integrate technologies, streamline workflow processes and offer enhanced functionality to its users in each of its 25 member financial centers.
"Our member financial centers originate mortgage loan applications online; however, the application is then sent to our centralized mortgage processing center," Slate said. "With our previous system, once the application went into processing, the Member Financial Center was not able to view the status of the loan and was therefore unable to answer member questions related to that loan. With the FICS' Loan Producer system, we will be able to implement a view only mode so they can see the loan, allowing them to answer member questions in real time and provide better member service."
Both the Loan Producer and Mortgage Servicer systems include Radstar, a Report And Document Storage And Retrieval system, which allows Truliant to move toward a paperless mortgage operation.
–[email protected]