LAKE MARY, Fla.–D+H has published a case study featuring Northwest Federal Credit Union and the results it experienced aftering combining MortgagebotLOS with its MortgagebotPOS deployment and with LaserPro Mortgage Lending.
According to the company, Loan production volume from mortgage lending grew more than 75% in one year, enabling the $3-billion credit union to continue reinvesting in its members. With the deployment concurrently taking place with the go-live date for the TILA- RESPA Integrated Disclosure rule implementation (TRID), Northwest Federal was able to ensure it was compliant with TRID regulations right out of the gate using the combined D+H systems, D+H reported.
“Recognizing the growth potential of its mortgage lending business and the importance of keeping pace to ensure a high level of member service, Northwest Federal embarked on a journey to implement a fully integrated, end-to-end mortgage lending system,” the case study states.
The case study details the steps the credit union and D+H went through, and notes that the effort “ has translated into a substantial improvement in lending revenues. Specifically, Northwest Federal saw a spike in overall revenues in 2015, exceeding $3 billion in assets for the first time, and attributes much of this to its lending business— both consumer and mortgage. Mortgage lending alone grew nearly 100%, to $350 million in 2015, a number the expects will reach $500 million in 2016.
“A lot of this goes back to the MortgagebotLOS solution” said a spokesperson for the credit union. “With both the LOS and POS solutions, we gain business advantages such as streamlined processes and paperless processing.”
A complete copy of the case study can be found in CUToday.info's The Vault here.