Lender*VP Presents 1Click Unfunded – Arriving 6/10/24!

1Click Unfunded is a new type of 1Click offer that allows your credit union to present pre-approved secured loan offers to members – still via online and mobile banking, but without immediate funding and loan creation!

Instead of automatically opening the loan account and disbursing the funds, when your member accepts the offer, a pre-approval letter (provided by your credit union) will appear. The member can then take that letter to the dealership for purchase negotiation. Meanwhile, the application will be in the CU*BASE loan application queue as a pending 1Click offer.

Once your credit union receives the completed paperwork from the dealership, a credit union employee can edit the application to match the closing documents, then book the loan and send the funds to the dealership as usual!

1Click Unfunded will be available for all credit unions beginning Monday, June 10th. Click the button below to visit our online store to learn more about 1Click Unfunded, or to place your order after June 10th.

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Vehicle Valuation Price Increase Arriving in October

Vehicle Valuation Price Increase Arriving in October

Attention CU*Answers clients: effective October 1st, 2024, pricing for J.D. Power Vehicle Valuations will be increasing. The monthly cost will increase from $55.00 per month to $60.50 per month, while valuation costs will increase from $0.22 per valuation to $0.24 per valuation. These price increases will apply to all clients using the service, including current subscribers. If… Read more »

Jun 19, 2024

Arriving 6/18: Enhancement to Interest Accrual Calculator to Display Historical Interest Rates

Arriving 6/18: Enhancement to Interest Accrual Calculator to Display Historical Interest Rates

On Tuesday, June 18th, we will be deploying an enhancement to the Interest Accrual Calculator via Member Inquiry. This enhancement will support the display of historical interest rates, allowing users to search what the interest rate was during a specified period of time. This enhancement will offer your credit union greater insight into research relating… Read more »

Jun 14, 2024

Arriving 6/18: Update for Collateral Records & Impact to Third-Party LOS Users

Arriving 6/18: Update for Collateral Records & Impact to Third-Party LOS Users

On Tuesday, June 18th, we will be deploying a project for third-party loan origination systems that build collateral records to populate the title tracking field with the default assigned to the collateral type. For third-party LOS users only: The project affects all third-party LOS users for both current and future collateral records. This project will… Read more »

Jun 11, 2024

Recommendations from Lender*VP – Document Retention for Denied Applications

Recommendations from Lender*VP – Document Retention for Denied Applications

What is your credit union’s current retention plan for documents relating to denied applications?  Lender*VP has recommendations for your credit union, as detailed below. Lender*VP recommends that any/all relevant documentation and information that is used to deny loan applications should be saved by your credit union for a period of at least 25 months.  Relevant… Read more »

Jun 10, 2024