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Impel Consulting helps Louviers FCU offer business services

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NEWARK, Del. (10/19/09)--Louviers FCU recently began offering a suite of business financial services to its members and local businesses after contracting with Impel Consulting Group, a credit union service organization of Mid-Atlantic Corporate FCU to investigate members’ small business needs. Impel’s analysis indicated that an increasing number of Louviers members were running small businesses through their regular consumer accounts. The analysis also showed that small and micro-businesses with assets up to $10 million were not be served by other financial intermediaries, said the Delaware Credit Union League (Together Oct. 15). After receiving the analysis results, Louviers developed interest-bearing deposit accounts including savings, checking, money market and certificates for small businesses. It also partnered with Newtek Business Services for financial services and loan products. The credit union also is developing new relationships with businesses in New Castle County, Del., and Cecil County, Md. Louviers FCU, Newark, Del., has $181 million in assets.

Mortgagebot enhances PowerSite automation platform

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MEQUON, Wis. (10/19/09)--Automation is the best way to ensure full regulatory compliance with the mortgage process, according to Mortgagebot, which provides mortgage solutions for financial institutions including credit unions. Mortgagebot announced it has enhanced its PowerSite point-of-sale automation platform to help financial institutions with compliance of different regulations. “The more time lenders are forced to spend analyzing legislation and developing compliance programs, the less productive and profitable they are,” said Scott Happ, Mortgagebot president/CEO. Mortgagebot also created a list of questions that lenders should ask when they respond to compliance issues. Many credit unions and banks aren’t fully aware of the impact the current wave of mortgage regulation is having on their business practices, Mortgagebot said. The questions include:
* Can we accurately price and approve loans at the point of sale? * Are all of our disclosures fully correct and compliant? * Can we properly disclose payment information? and * How will we handle the year-end Real Estate Settlement Procedures Act changes?
Mortgagebot, based in Mequon, Wis., provides a point-of-sale automation solution set, including PowerSite Consumer, PowerSite Advisory and PowerSite Pro.