Lender*VP Top Ten 2017

top_tenWe kicked off the Lender*VP Top Ten priorities back in 2010 and continue to plan for future enhancements to the lending functions in CU*BASE. Below are the top ten lending priorities for 2017.  Please review the commentary for each project and add your comments!

 

Updated
March 10, 2017

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1. Experian Decision Model

Current status= in development, project #41622

In addition to our current 247 Lender Decision Model, we are reviewing other decision model offerings in the marketplace.

  • This second solution will come with various levels that put control in the hands of the credit union to determine parameters and tolerances.

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2. Fund Deposits and Payments Via Member Debit/Credit Cards In It’s Me 247

Current status = in development

This project is to develop a process in It’s Me 247 for allowing debit or credit cards (plastics) to be used for payments and deposits.

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3. Indirect Lending Integrations

Current status= in the specification stage now

  • MeridianLink is in the specification stage now.
  • With CU*Answers constantly working on APIs, many other vendors are a possibility as well.

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4. NADA Enhancements

Current status= in the specification stage now

  • Boats, mortorcycles, RVs, etc. would be next on our list as a phase two to our first NADA integration.
  • We are also exploring a similar option for Kelly Blue Book.

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5. Mortgage Application Import – Fannie 3.2

Current status= expected in 17.05 release

This new functionality will allow the import of Fannie Mae Desktop Underwriter (DU) 3.2 files that have been exported from a third party Loan Origination System (LOS). There will be an expanded number of fields which will be brought into the pending loan application on CU*BASE, and specific fields related to the Mortgage Type and Terms will be brought in unmodified.

  • The first year of usage will be free
  • Initial vendors will be the following:
    • Accenture Mortgage Cadence’s LFC (Loan Fulfillment Center)
    • Calyx
    • MortgageBot
    • Encompass 360

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6. LO productivity Report

Current status= Envisioning stage

  • With all the tools already available in CU*BASE, we plan to take an alternative course with this initiative. We will push interviewer/processor, approval ID, opened by employee ID and collector and allow credit unions to monitor whatever field they deemed important.
  • This could be used for coaching, incentives, or performance metrics.

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7. CU Publisher: Form Generator

Current status= in development, project #44080

The coming soon functionality is designed to create a self-service web application form generator for credit unions to be able to create their own static html forms to use in IM247, mobile apps, and their credit union websites.  Form data will be encrypted and delivered to a separate & new web application (Request Center) used for working the application (Project 44081).

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8. Automatic Tracker Written Out When Loan Payoffs Are Quoted

Current status= project #42411 in production with 17.05 release

This project allows for a tracker to be automatically generated when the payoff tool in Phone Operator is used. Therefore, the credit union has a record of the quoted payoff including the date/time, employee and payoff amount to use for follow up with the member.

  • Lender*VP will add this to our Just Turn it On (JTO) menu to offer assistance and expertise in configuration and best practices.

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9. Add ‘Refinance’ Automatic Option Within Credit Reports

Current status= project #43924

CU*BASE already estimates an interest rate for debts listed on credit reports. This is a great opportunity to ask members if they would like to refinance with the CU. We are taking that one step further by adding a ‘refinance’ option next to any debt where the members would pay less on a monthly basis at the credit union.

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10. Freddie Mac Changes to Investor Reporting

Current Status = In development, project #44327

Freddie Mac is changing their cycle and reporting systems effective May 2019. This will change the reporting period to a calendar month, require a full reporting on calendar day 15 similar to Fannie Mae and will require changes in calculation method and file information. We are currently working with our partners at Freddie on this and will continue to do so to ensure compliance by the implementation date.

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