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myCUmortgage Launches New Servicing Operation
Feb 22, 2017
myCUmortgage has hired Dave Schlegel as its new Director of Default Services

In a move that will re-design the options available to credit unions for servicing first mortgage loans, myCUmortgage announced that it has launched its new mortgage servicing operation. myCUmortgage is a leading Credit Union Service Organization (CUSO), wholly-owned by Wright-Patt Credit Union.
"For years, our clients have asked us when we were going to take the same member-centric approach of our lending operations to the servicing arena. They wanted their loans serviced by someone who understood credit unions and their members," said Tim Mislansky, president of myCUmortgage. "For nearly two years, we've built a team of mortgage servicing professionals and infused them with credit union values. We have selected great technology tools, developed member-friendly processes and procedures and performed extensive testing.
By building a mortgage servicing operation, myCUmortgage can now use its member-centric approach to help credit unions service their members' mortgage needs. Credit unions will benefit through:
►A cooperative pricing model where servicing costs for all client credit unions are lowered as myCUmortgage volume rises;
►A partnership with myCUmortgage staff which exemplifies the right combination of servicing expertise and credit union experience;
►A simplified communication approach that uses everyday language to communicate with members in clear terms rather than regulatory legalese used by most servicers;
►Self-service tools to assist their members at the point of member contact, including the ability to accept payments in the branch, regardless of whether the loan is a credit union portfolio or has been sold to an investor; and
►Access to a robust series of reports and dashboard tools to better manage their mortgage programs.
"Too often, members only think of servicing when there's a problem with their loan. We believe servicing can be re-imagined into a member-focused solution and a value-add to their credit union mortgage," said Mislansky. "That solution is what we're building here at myCUmortgage."
myCUmortgage will convert its existing servicing portfolio along with nearly 50 balance sheet loans from the current subservicer in May. After all existing business is converted and members are completely set up on the new platform, myCUmortgage will offer this credit union and member-centric solution to all credit unions.
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