MADISON, Wis. – CUNA Mutual Group said it will begin offering a new mortgage payment protection insurance product to credit unions and their members through an alliance with D+H.
The mortgage payment protection insurance will be offered through an integration with MortgagebotPOS , D+H’s consumer direct mortgage solution.
“The alliance will bring to life the credit union industry’s first, all-in-one, residential mortgage protection product to cover members in the event of unexpected job losses, death or disability – all within one, seamless user experience for application and enrollment,” the companies said.
Through the alliance, CUNA Mutual Group will integrate its new mortgage payment protection insurance product directly into MortgagebotPOS. This will allow credit unions to seamlessly provide quotes and enroll members in the new insurance offering, according to CUNA Mutual, which said it plans to launch the product later this year and will include complimentary loan officer training for the credit unions that leverage it.
“We’re excited to be working with D+H, a market leader in lending technology solutions,” said Chuck Cashman, vice president of business development and strategic alliances for CUNA Mutual Group. “This alliance means that credit unions will have a new critical service to offer their members. It also provides a strong competitive advantage for the credit union industry.”
Mortgage payment protection is a voluntary insurance offering designed to cover mortgage payments during a critical period following the occurrence of a borrower’s death, disability, or involuntary unemployment.
“The alliance between D+H and CUNA Mutual Group will enhance our clients’ ability to help members protect one of their most valuable assets, their home,” said Scott Hansen, senior vice president of marketing, D+H. “We look forward to further supporting our credit union clients with the addition of this valuable new mortgage payment protection insurance service for their members.”