COLUMBUS, Ohio—Corporate One Federal Credit Union said it has partnered with automated mortgage transaction technology provider Roostify to offer a streamlined, digital mortgage platform to credit unions and credit union service organizations.
Corporate One said credit unions and CUSOs will be able to offer an improved upon and “easy-to-use online/mobile mortgage experience that is transparent to and fosters collaboration among all parties involved, including the loan officer, borrower, real estate agents and other relevant parties.”
“This partnership aligns perfectly with our strategy to help credit unions succeed in the mobile/digital financial marketplace,” said Corporate One President/CEO Lee Butke in a statement. “As we see the continued growth in mortgage lending intersect with the consumer-driven move toward online/mobile purchasing for all financial products, this platform offers credit unions an opportunity to develop a competitive advantage in mortgage lending. Best of all, this solution improves the overall mortgage experience, making it more transparent, efficient and collaborative for everyone involved.”
According to Corporate One, credit unions can eliminate days off of the traditional mortgage process with this platform by reducing manual processes and communications. Meanwhile, members get the online/mobile experience they expect in the 21st century: anytime/anywhere access, a clear view into what’s happening with their loan, and faster processing as a result.
Corporate One said the platform offers:
- A clean, customizable user interface, including the ability to brand the site to each respective credit union that uses it
- Secure, digital document uploading, management and tracking
- Consumer collaboration tools that invite all participants into the process, including the loan officer, borrower and third parties, like real estate agents. Participants can communicate in real-time via instant message, easily track deadlines via a calendar view and remain on the same page and aware of the progress taking place via status updates
Corporate One said it more formally partnered with Roostify after a 12-month plus proof of concept trial period in which Superior Financial Solutions, LLC, a mortgage services CUSO of Superior Credit Union in Lima, Ohio, tested the platform with some of its credit union members.