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Processing & Underwriting

Processing a mortgage loan includes gathering and maintaining the file of information about a member’s lending transaction, including the credit report, appraisal, title search, flood verification, verification of employment and assets. During this step, myCUmortgage® processes the mortgage loan and conducts the underwriting for the loan decision entirely with a web-based system.

Our partnership with Accenture Mortgage Cadence helps process loans online using a secure co-branded website. As a result, it takes us significantly less time to process mortgage loans compared to other providers. Additionally, our online communication is paperless; therefore we don’t have overnight shipping costs or additional paperwork costs to process loans. That’s a significant savings for you and your members.

myCUmortgage has several mortgage solutions that can be customized for your credit union’s mortgage needs.

CU One
CU One allows your staff to take mortgage applications from your members using our co-branded website. We help you process, underwrite and close loans, taking care of secondary market requirements as necessary. You receive increased revenue on the transaction and lower fees for your members.

CU Two
CU Two empowers your staff to originate and process applications within your lending department using our co-branded website. We underwrite and close the loan for you. Unlike other providers, you may choose to keep and service loans in your own portfolio. Or, we can help you manage secondary market sales. You enjoy higher revenue opportunities with CU Two because our pricing reflects the cooperative values of a credit union.

Work through our FHA, USDA and VA approvals as a CU One, CU Two or Government stand-alone to provide your members the “best fit” mortgage product for their needs while earning income for your credit union. Your staff originates the loan and stays in front of your members. Purchase and Refinance programs are also available.

To learn more about which mortgage solution works best for your credit union, contact myCUmortgage today.