NAFCU Services Chooses Dovenmuehle For Mortgage Subservicing Solutions
WASHINGTON – NAFCU Services Corporation today announced the addition of Dovenmuehle Mortgage, Inc. to its Preferred Partner Program for mortgage subservicing solutions for credit unions. Dovenmuehle is the largest and oldest subservicing firm in the United States and a leading subservicer for credit unions.
“Given the investment in time, people and technology, it can be challenging to achieve consistent economies of scale with the variable nature of mortgages at many credit unions,” said David Frankil, president of NAFCU Services. “Managing regulatory compliance and delivering excellent member service present added challenges. You can achieve many of these savings and productivity gains by outsourcing mortgage servicing to a third party.”
Dovenmuehle currently subservices approximately $90 billion in mortgage loans on behalf of 300 financial institutions nationwide. It offers private label outsourcing programs for the subservicing of residential and commercial mortgage loans including first mortgages, closed-end second mortgages and revolving home equity lines of credit.
“Dovenmuehle is very familiar with the unique decision-making process for credit unions,” said David Allison, senior vice president at Dovenmuehle. “Our consistent market leadership and success is based on the high satisfaction levels of our current credit union clients and our ability to structure customized proposals and service offerings in response to each credit union’s unique requirements.”
Learn more about the NAFCU Services/Dovenmuehle partnership at www.nafcu.org/dovenmuehle.
Dovenmuehle was founded in 1844 and is based in Lake Zurich, Illinois. Dovenmuehle services 450,000 loans for credit unions, banks, thrifts, mortgage banking companies and insurance companies nationwide. Dovenmuehle subservices portfolio mortgage loans as well as loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. The Dovenmuehle subservicing program for credit unions is entirely private branded with complete on-line access and daily updates to each credit union’s internal systems. Individual members may continue to make payments at the credit union’s branches, by mail, telephone and on-line. Clients benefit from reduced servicing costs, consistently high levels of member service, complete flexibility in terms of mortgage products and investors, and guaranteed regulatory compliance. Learn more at www.dovenmuehle.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.