CUNA Mutual Group has partnered with financial technologyprovider D+H to provide a mortgage payment protection insuranceproduct for credit unions.

The tool will make payments for credit union mortgage borrowersin the case of their deaths, disabilities or involuntary job loss,according to Alan Bahr, director of product management for CUNAMutual in Madison, Wis.

Through the alliance, CUNA Mutual said it will integrate its newmortgage payment protection insurance product directly into D+H'sMortgagebotPOS, which will allow credit unions to providequotes and enroll members in the new insurance offering.

The mortgage payment protection tool is scheduled to launchlater this year and will include complimentary loan officertraining for the credit unions that leverage it, according to CUNAMutual. Bahr said the company had tested the product with a smallnumber of credit unions for about a year.

Borrowers apply for the product at the same time they apply forthe mortgage, he added. Applicants respond to four questions and donot need medical tests to qualify for the insurance.

Bahr said CUNA Mutual believes the mortgage payment protectionproduct is unique in the market because other insurance companiesonly offer a modified term life insurance product.

“We think this could be a real game changer for credit unionsand could be a key differentiator in the marketplace,” Bahrsaid.

Roughly 40% of the industry's highest mortgage originatingcredit unions will be able to apply for the coverage, Bahrsaid.

“We're excited to be working with D+H, a market leader inlending technology solutions,” of Chuck Cashman, vice president ofbusiness development for CUNA Mutual, said. “This alliance meansthat credit unions will have a new critical service to offer theirmembers. It also provides a strong competitive advantage for thecredit union industry.”