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Quicken Loans offers mortgage services for CUs small banks

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LIVONIA, Mich. (5/19/10)--Quicken Loans has introduced Quicken Loans Mortgage Services, a division that serves the home financing needs of credit unions and community banks nationwide. Because of new rules determining who can originate mortgages, financial institutions may want to offer home loans, but they may not be large enough to justify hiring mortgage consultants and underwriters, Quicken said. Through Quicken Loans Mortgage Services, partner financial institutions can meet with existing clients, investigate their current situation and goals, and begin the mortgage application. Credit unions and banks remain the point-of-contact for the client, while Quicken manages the work to complete the loan. The clients then sign closing documents at their credit union or bank. Credit unions can offer Fannie Mae, Freddie Mac, Federal Housing Administration and Fannie Mae HomePath mortgages through Quicken Loans. Quicken Loans is an online and retail mortgage lender.

Offering MBLs leads to growth--Biz Lending Institute

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MADISON, Wis. (5/19/10)--Credit unions engaged in member business lending in 2009 reported higher growth rates for assets, loans, surplus funds, savings, and members than the national credit union average, according to Credit Union National Association (CUNA) market research. This year’s CUNA Business Lending Certification Institutes will help credit unions understand the components involved in offering business lending services and how they can implement them to grow. The institutes are July 19-23 in Madison, Wis. and are presented in partnership with the Executive Education, University of Wisconsin-Madison School of Business, and Small Business Development Center. CUNA Business Lending Certification Institutes’ attendees will learn how a business works, what makes a business successful, how to help a business stay on track, and how to identify quality business lending opportunities. “The National Credit Union Administration is moving the bar up and we as lenders need to constantly hone our lending skills,” said Dana Sumner, president of DFTC Inc. and facilitator for CUNA Business Lending Certification Institutes. “The lending environment is getting more difficult and we need to have the skills to originate, approve and service more challenging credits. Most member business lending (MBL) departments I have been involved with generate more revenue per staff member, and even in difficult budgetary times, training is not an area that will benefit from cost cutting, especially in the volatile world of MBL,” Sumner said. The institutes provide the foundation for credit unions to become trusted financial partners for member businesses. Attendees will discover how to use tools and techniques to add value to existing business relationships and identify opportunities for new business, CUNA said. For more information, use the links.