After searching for a partner with flexibility and expertise in the mortgage industry, the Department of Commerce Federal Credit Union (DOCFCU) has selected LenderLive Network Inc. to service loans and manage document services. The DOCFCU has served members in the Washington, D.C. area since 1932 and currently has more than 15,000 members. The credit union, which has offered mortgages since (date), considered more than 15 providers before selecting LenderLive.
“Efficiency, consistency and superior member service are very important to our credit union, and partnering with a company who holds those same values in high regard was key,” said Jeff Banyas, vice president of lending, DOCFCU. “It was crucial that the company be able to help us streamline our processes while enabling us to provide quality service to our members. LenderLive provides a comprehensive offering from processing to loan servicing. Their staff understands the mortgage industry which is a good reflection on our credit union. Not only do we enjoy working with them, but our members do as well.”
LenderLive assessed DOCFCU’s needs to determine the right services to recommend. In addition to servicing its loans, the credit union works with LenderLive’s outsource services division to manage its processing, underwriting and closing needs.
“LenderLive appreciates the unique relationships credit unions build with their members and how important it is to maintain those relationships,” said Dave Vida, president of LenderLive’s Loan Servicing division. “Department of Commerce FCU wanted to work with a company that would allow flexibility in the relationship so it could continue to build its portfolio. We have a system that is not anchored to legacy technology or processes of the past. That makes us a nimble partner who can offer customized services without adding any additional costs to our customers. We look forward to furthering our work with DOCFCU and being a part of its growth.”
Banyas added, “We have been impressed by the way LenderLive stands behind their work, showing a true commitment to compliance. In every sense of the word, LenderLive is a partner to us – if we do have a bump in the road, they listen and work with us to find a solution quickly. This is the kind of responsive partner we want to help us expand our business and to better serve our members in the future.”