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8 Reasons Credit Unions Are Choosing nCino for Mortgage Origination

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Credit Union
key points
  • nCino's Mortgage Suite offers credit unions long-term efficiency and productivity gains.

  • An optimized lending process with nCino not only helps credit unions but also improves satisfaction for their members.

Credit unions, by their nature, operate differently from traditional banks. They're uniquely focused on serving their member base with exceptional service and competitive loan offerings.

As a result, lending technology used in credit unions must align with this unique operational model. According to McKinsey, 60% of tech-savvy borrowers would prefer a fully digital online application experience. Meanwhile, a recent HousingWire article found that 68% of homebuyers surveyed perceive that technology improved the homebuying process, citing convenience and ease of use. Clearly technology plays a big role in a credit union’s ability to meet their members’ needs, which means choosing the right partner is more important than ever.

The right technology partner for your credit union must offer automation, intelligence, and a member-centric design that enhances the experience for all parties in the homeownership journey. It must simplify the loan application process, provide easy-to-understand loan tracking, and deliver timely notifications to real estate partners, members, loan officers, closers, and title and settlement professionals. These benefits aren’t just about efficiency and productivity. They’re also about giving you more time to focus on what’s most important: your relationships.

Jordan Houghtaling, Manager of Real Estate Systems, Altra FCU agrees. When discussing why his credit union choose nCino’s Mortgage Suite, he says, “Our vision statement is ‘helping you live your best life,’ and supporting members’ journey to homeownership is central to that goal. Personal relationships with members are the heartbeat of our mortgage operation. nCino allows us to grow, manage and evaluate the impact of those relationships with just a few clicks.”

Not only does digitizing streamline the credit union's operations, it also significantly enhances the loan experience for members so you can deliver the right experiences at the right time.

Here are 8 benefits to choosing nCino’s Mortgage Suite:

  1. Efficiency, Scalability, and Productivity: nCino’s Mortgage Suite automates many of the time-consuming manual tasks involved in the lending process. This streamlining allows employees to focus more on strategic tasks and member service, improving overall scale, productivity, and efficiency.

  2. Improved Member Experience: With features like online applications and real-time loan tracking, nCino mortgage enhances the loan experience for credit union members. The platform offers a user-friendly interface and mobile app, allowing members to apply for loans and check their loan status at their convenience, increasing satisfaction.

  3. Customization and Scalability: nCino mortgage can be customized to fit any credit union's unique needs and workflows. It can quickly adapt and scale as the credit union grows, ensuring the technology stays ahead of the competition and the credit union remains valuable and relevant.

  4. Seamless Integration: nCino mortgage is designed to integrate smoothly with a credit union's existing systems, including loan origination systems (LOS), and customer relationship management (CRM) software. This ensures that all systems can communicate and work together effectively.

  5. Security and Compliance: nCino mortgage prioritizes data security and adheres to all relevant financial regulations and standards. Credit unions can trust that their sensitive data, and their members' data, will be protected.

  6. Streamlined Decision-Making: The technology provides comprehensive reports and analytics that can inform strategic decisions, helping to optimize lending operations and improve loan portfolio performance and profitability.

  7. Cost Savings: By automating various tasks, reducing errors, and improving efficiencies, nCino can help credit unions reduce operational costs in the long run.

  8. 24/7 Access: Members and credit union staff can access nCino mortgage anytime, anywhere, offering convenience and promoting faster loan processing.

By adopting a solution like nCino’s Mortgage Suite, credit unions can transform their lending operations and deliver superior service to their members from pre-application to post-closing.

nCino’s easy-to-use, secure, and customizable digital mortgage solution that integrates seamlessly with your existing systems.

If your credit union is searching for a new technology that will streamline your lending process, improve member satisfaction, and profitably grow your credit union, nCino’s Mortgage Suite is the answer. To learn more, schedule your demo today.