Ventura County Credit Union Implements LendingQB’s LOS Platform – NMP Skip to main content

Ventura County Credit Union Implements LendingQB’s LOS Platform

NationalMortgageProfessional.com
Aug 27, 2012

LendingQB, a provider of seamless mortgage lending technology, announced that California-based Ventura County Credit Union (VCCU) has successfully implemented its end-to-end browser-based loan origination system (LOS). VCCU is using LendingQB’s LOS platform to effectively manage growth, ensure excellence in member service and cut originations costs. “We are currently in a growth mode and needed a platform that could flex and scale with us as we expand the mortgage side of our business,” said Greg Uttal, director of lending at VCCU. “Attractive to us was LendingQB’s ability to move loans effortlessly through our entire workflow, eliminating many manual touch points so our employees are more productive and can devote more time to member service. Further, the efficiency of LendingQB’s workflow management will reduce our cost per loan and thus enable us to offer better pricing to our members.” Because LendingQB’s end-to-end LOS platform uses a single database, VCCU’s employees all work off of the same data, reducing errors and eliminating the re-keying of information. This speeds up the entire lending process from the point of first borrower contact through underwriting, processing, closing, funding and secondary marketing. VCCU is taking advantage of LendingQB’s per closed loan pricing model, which allows them to better manage origination costs by avoiding a flat fixed fee. “Credit unions have been capturing an increasing amount of market share of late and are currently experiencing rapid growth in the mortgage lending area,” said Binh Dang, president ofLendingQB. “As a result of this uptick in volume, they quickly developed a need for technology that can efficiently manage credit unions’ unique lending operations and still maintain high levels of member service, which is largely what attracts members to doing business with them. After our SaaS-based implementation was completed, VCCU was able to immediately automate every single area of their lending process, which has provided complete visibility and improved employee communications, among other improvements.”
Published
Aug 27, 2012
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