DALLAS (11/14/13)--Credit union mortgage services provider CU Members Mortgage has named the winners of its annual Credit Union Elite Partners Club program for its 2012-2013 fiscal year.
The winning organizations' achievements were based on CU Members Mortgage's scorecard process, which evaluates its partners' mortgage department annual performances. The credit union organizations that met their goals include:
- Mortgage Ease 1--Credit Union of Texas, Dallas;
- Mortgage Ease 2--Riverland CU, New Orleans;
- Mortgage Ease 3--Eli Lilly FCU, Indianapolis;
- Mortgage Ease 4--Security Service FCU, San Antonio;
- Top Credit Union League--Cornerstone Credit Union League;
- Marketing Achievement--Louisiana Credit Union League; and
- Marketing Achievement--League of Southeastern Credit Unions.
The scorecard process was developed to emphasize how credit unions evaluate the progress, effectiveness, and quality of their mortgage programs.
The scorecard takes into account factors such as the ratio of home loans that are purchased compared to home loans being refinanced, average borrower FICO scores, a low percentage of early payoffs and a miniscule default ratio. Additionally, credit unions score points for innovative marketing initiatives and attending educational training sessions.