Virginia Credit Union Partners With SSI to Handle the Evaluation of Settlement Agents – NMP Skip to main content

Virginia Credit Union Partners With SSI to Handle the Evaluation of Settlement Agents

Jul 20, 2015
Business Handshake

Virginia Credit Union has selected Secure Settlements Inc. (SSI) to handle independent risk evaluation, rating, monitoring and reporting of settlement agents who wish to close VACU members’ mortgage loans. The credit union is now utilizing the SSI Closing Guard tool to evaluate settlement agents who close mortgage loans with VACU. A team led by Jeff Coward, Virginia Credit Union vice president of mortgage lending, selected SSI and began using the new tool in May 2015.

“We are pleased to work together with Virginia Credit Union in managing these critical vendor issues to provide the highest level of scrutiny for consumer protection and overall loan quality assurance,” said SSI President Andew Liput.

A member-owned financial cooperative serving more than 237,000 members, Virginia Credit Union provides a variety of affordable banking services, loans, mortgages, and free financial education resources. Virginia Credit Union is federally insured by the National Credit Union Administration (NCUA) and is an equal housing opportunity lender.

About the author
Published
Jul 20, 2015
MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan

The GLBA Compliance Gap Your AI Deployment Just Opened

Old statutes, new models, and the vendor contract you signed before machine learning became operational