LoanLogics and MemberClose Partner to Offer Portfolio Review Service for Credit Unions – NMP Skip to main content

LoanLogics and MemberClose Partner to Offer Portfolio Review Service for Credit Unions

NationalMortgageProfessional.com
Jan 11, 2016
MemberClose and LoanLogics have partnered to create an automated portfolio review service designed to meet the needs of credit unions

MemberClose and LoanLogics have partnered to create an automated portfolio review service designed to meet the needs of credit unions. The offering will enable users of MemberClose to acquire new loan management and assessment functionality that promises to further enhance the value of the MemberClose Home Equity and Mortgage Settlement software platform. A credit union can upload loans to LoanLogics’ LoanHD Loan Performance Management platform via a secure interface located on the MemberClose’s Web site. The LoanHD system will perform a sophisticated analysis of the loans, which is then delivered in easy to understand language through the MemberClose platform.

MemberClose users will benefit from the ability to run portfolio reviews and assess the amount of potential risk inherent in the credit union’s home equity lending portfolio. In addition, this partnership will also provide discounts for credit unions that wish to further tap additional capabilities provided by LoanLogics through its LoanHD platform.

“I’m excited to be able to deliver this valuable tool through our partnership with LoanLogics,” said Bob Delaney, chief operating officer of MemberClose. “This new service will enable a credit union to easily determine any change in the risk profile of its borrower as it relates to credit, property value or lien position. LoanLogics is the premier provider of loan analytic tools to lenders and the perfect company for us to partner with for this service.”

“The aim of this partnership is to ensure that credit unions have the technology they need to serve their members and comply with regulations. In addition, it means that credit unions of any size have access to the same technology as the largest mortgage lenders and that levels the playing field,” said Brian K. Fitzpatrick, president and CEO of LoanLogics. “Increasingly, credit unions are recognizing that they need to proactively monitor their mortgage loan portfolios. LoanHD provides a cost effective, efficient technology that helps our clients stay compliant while reducing costs.”

In addition to life-of-loan performance management, analytics, monitoring and data refresh capabilities, LoanLogics also offers product eligibility and pricing, as well as a loan-quality management solution that automates and reduces the costs and risks associated with mortgage loan quality-assurance and quality-control audits.

Published
Jan 11, 2016
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