Press
CU Companies announces partnership with NextDeal and Digital Docs
NEW BRIGHTON, MN (April 30, 2015) – CU Companies TITLE is happy to announce the incorporation of improved mortgage management technology that will benefit its users. We have partnered with NextDeal and Digital Docs to help users improve retention by allowing their borrowers to better manage their home and mortgage files. The partnership will deliver technology designed to establish a safe and convenient way for borrowers to access their home and mortgage files as well as provide return business to CU Title’s owners/partners.
“We know a pain point of our owners and partners is retention,” said CU Title President Steve Albers. “We also see at the closing table that the borrower is overwhelmed with what to do with the papers they sign. This new technology is a solution to both of those concerns. Plus, it gives the borrower the option to upload other personal documents for safe-keeping (and to avoid sifting through stacks of papers); a great way for our users to provide a value-add to their borrowers.”
The technology, which is made possible through Digital Docs and NextDeal – both of which have successfully completed certification for the SSAE 16 (SOC2) TYPE 1 (formerly SAS 70) standard – offers the borrowers with a code at closing, which will be used to access all the online mortgage documents for future use and safe keeping. This will improve borrower confidence, as mortgage documents will be protected, as well as any other documents they choose to upload.
Additionally, the borrowers will receive reminders and messages regarding:
– Taxes
– Homestead exemptions
– Recent home sales in their area
– Contact information for moving utilities
All messages contain the contact information for their lender, realtor, and CU Title as their closing company.
When the borrower accesses their account, the lender and the realtor receive a notification, allowing for a timely follow up. Consumers most often access their mortgage information when they are interested in refinancing or moving. This technology puts CU Title owners and partners a step ahead of the competition by tracking the access points of the borrower. It provides the opportunity to increase market share by capturing that repeat business.
“We are a strategic partner to those lenders and realtors choosing CU Title as their preferred closing vendor,” Albers said. “Implementing this new technology proves we take that seriously.”
About CU Companies
CU Companies was founded in 1987 by three Minnesota Credit Unions to offer a competitive mortgage solution for their members. Now they are owned by over 60 credit unions in Minnesota and offer a wide range of products and services to numerous credit unions and community banks across the nation.