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Products Archive

Products

CO-OP Financial Offers Mortgage Lending Services

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RANCHO CUCAMONGA, Calif. (5/29/13)--CO-OP Financial Services Tuesday introduced CO-OP Mortgage Solutions, a suite of mortgage lending services for credit unions that combines technology applications, legal/regulatory expertise and call-center support.

"Mortgage lending is a cornerstone product for credit unions, yet building the in-house capacity to support mortgage portfolios and keeping up with complex regulatory mandates can be difficult for many institutions," said Stan Hollen, CO-OP Financial Services president/CEO. "CO-OP Mortgage Solutions brings technology, expertise and availability to credit unions needing a comprehensive and cost-effective mortgage offering to grow and retain membership."

The CO-OP Mortgage Solutions suite includes four services:

  • Correspondent Lending Program for mortgages credit unions may not want to hold on their balance sheets. Benefits include reduced operational costs, remaining compliant and avoiding buy-backs.
  • Loan Servicing for compliant, high-touch subservicing of performing and non-performing loans. Benefits include technology applications that provide credit union managers with real-time views into loan performance and a service team to save credit unions time and money, while protecting their investments.
  • Origination Services for domestic support in the processing, underwriting and closing of residential mortgages. The services include fulfillment solutions that are Secure Ammunition and Firearms Act-compliant and loan-origination system software.
  • Settlement Services for nationwide access to title insurance, uninsured title products and closing services. The services are designed to help credit unions close more loans faster, with greater control of the settlement process.
CO-OP Financial Services is offering CO-OP Mortgage Solutions in partnership with LenderLive Network Inc., Glendale, Colo., and will operate services via CO-OP Member Center, a wholly owned subsidiary of CO-OP Financial Services based in Fort Worth, Texas.

New Products Integrate Mobile Payments, Online Ads

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SAN FRANCISO and RA'ANANA, Israel (5/29/13)--Two new payment products seek to improve integration between marketing and mobile payments.

San Francisco-based Banno is developing advertising technology that financial institutions, including credit unions, can tie to payments and other financial products.

A provider of data-enriched Web and transaction marketing services for financial institutions, Banno recently introduced a product that offers products based on consumers' areas of interest. The product, called Kernel, integrates across different bank channels, including mobile, online and phone.

It analyzes a user's engagement to produce marketing specific to how the consumer uses each channel. As a result, credit unions and banks can cultivate strong leads and actionable opportunities for their products and services, Banno said.

"Consumers interact with a multitude of self-service banking channels across an ever-expanding array of devices," said Wade Arnold, Banno CEO. "Kernel simplifies the collection and analysis of these interactions to expose an individual's intent and changing interests. Automatic campaign ad delivery allows institutions to set and track their campaigns as well as visually explore their success. Now, banks and credit unions can address a consumer's needs with purpose and accuracy, delivering the right product message over multiple channels."

Ra'anana, Israel-based ZooZ, a payment platform company, offers a product that allows consumers to pay for merchandise directly from an advertisement rather than navigating to another site (Payments Source May 24).

Users tap on a banner ad within an app, which launches ZooZ's payments engine. If users have previously registered with ZooZ, they don't have to enter a card number or other payment details.

ZooZ is selling the new in-ad system to advertising agencies and is testing the technology with some unidentified companies.