Tuesday, February 17, 2015

Keeping CU members in their homes: Innovative alliance with D+H drives enhanced protections

We are excited to offer a new mortgage payment protection insurance product to credit unions and their members, through an alliance with D+H via an integration with MortgagebotPOS™ , D+H’s consumer direct mortgage solution.
“Just as today’s potential homeowners are concerned with their ability to secure a mortgage, they’re also concerned with their ability to keep their home,” said Alan Bahr, director of product management for CUNA Mutual Group. “It is important that we help credit unions ensure members can maintain the security of their families’ long-term financial health, including their home.”  

The alliance will bring to life the credit union industry’s first, all-in-one, residential mortgage protection product to cover members in the event of unexpected job losses, death or disability – all within one, seamless user experience for application and enrollment.

Through the alliance, we are able to integrate our new mortgage payment protection insurance product directly into MortgagebotPOS. This will allow credit unions to seamlessly provide quotes and enroll members in the new insurance offering. The product will launch later this year and will include complimentary loan officer training for the credit unions.
“We’re excited to be working with D+H, a market leader in lending technology solutions,” said Chuck Cashman, vice president of business development and strategic alliances for CUNA Mutual Group. “This alliance means that credit unions will have a new critical service to offer their members. It also provides a strong competitive advantage for the credit union industry.”

Mortgage payment protection is a unique and voluntary insurance offering designed to cover mortgage payments during a critical period following the occurrence of a borrower’s death, disability, or involuntary unemployment.

Currently, there are more than 6,500 credit unions and 100 million credit union members in the United States. In 2015, CUNA Mutual Group’s mortgage payment protection product will be available to many of the nation’s credit unions that currently use the MortgagebotPOS market leading consumer direct solution for taking mortgage applications.
“This collaboration between D+H and CUNA Mutual Group clearly illustrates the unwavering and strong commitment of both companies to continue to invest in new and innovative ways to support credit unions for the future,” said Cashman.