WASHINGTON — NAFCU Services Corporation (www.nafcu.org/nafcuservices) today announced the availability of a new podcast describing Prime Alliance’s Web-based mortgage origination and processing solution for credit unions that recently won a 2010 NAFCU Services Corporation Innovation Award. The podcast features an in-depth interview with Dan Green, EVP of strategy for Prime Alliance.

The podcast can be heard at www.nafcu.org/primealliance.

In the podcast, Green explains what makes the solution one-of-kind, including its comprehensive nature, Web-based technology, paperless processes and more.

“Prime Alliance’s technology is the only truly integrated, end-to-end mortgage origination and processing system available today,” said Green. “Where many mortgage lenders use multiple systems to originate and process loans, Prime Alliance customers, by comparison, use just one. This eliminates the need to maintain and manage multiple networks, databases and interfaces which can often lead to errors and inefficiencies.”

Green goes on to explain that the all-in-one solution saves time and paper costs, as well as offers some of the lowest closing costs in the market. Credit unions using the Prime Alliance solution have closing costs per loan of $500 to $750 in comparison to an average of $1,200 to $1,500 or more at credit unions without the Prime Alliance mortgage solution.

“The Prime Alliance mortgage origination and processing solution for credit unions was recognized by the NAFCU Services Advisory Committee as truly best-in-class,” says David Frankil, president of NAFCU Services Corporation. “The significant efficiencies and streamlined process not only position credit unions’ mortgage solutions above others in the market, but also translates to an improved member experience,” he continues. “This solution can provide credit unions with a strong competitive advantage.”

Each year, the NAFCU Services Advisory Committee selects three Preferred Partners for outstanding innovative solutions recently introduced to the credit union market. Prime Alliance is the NAFCU Services Preferred Partner for credit union mortgage solutions and a winner of the 2010 NAFCU Services Innovation Awards. Visit www.nafcu.org/2010InnovationAwards to learn more.

About Prime Alliance

Prime Alliance Solutions, Inc., is the largest credit union service organization concentrating on credit union mortgage lending, and is the credit union movement’s recognized leader in innovative mortgage solutions. Prime Alliance’s technology is the first and only system that enables fully paperless, completely electronic mortgage lending. More than 35 percent of all credit union mortgages are originated on Prime Alliance’s Retail Lending and Loan Fulfillment Centers.  The Company offers a full family of real estate solutions, including online applications, loan origination software, loan servicing, closing and settlement services, real estate services, Strategic Mortgage Solutions University and consulting. Visit the website at www.primealliancesolutions.com.

About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community and maintains the credit union locator website CULookup.com. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.