MADISON, Wis. – A Web-based tool allowing credit unions to quickly process and close mortgages from a vast, nationwide list of providers will now be offered and promoted nationwide through CUNA & Affiliates and the California Credit Union League (CCUL).

Through CCUL’s Rapid Real Estate Service Web site, www.curapid.com, credit unions can order appraisal services, property valuations, flood determinations, credit reports, document services, title services, closing and escrow services and tax services by entering information for a borrower once into the Web-based interface and submitting the requests to numerous providers simultaneously.

“Credit unions in California and Nevada have been using Rapid for nearly three years to expedite real estate settlement services,” said David L. Chatfield, league president and CEO. “We’re pleased to offer this cost-effective service to credit unions throughout the United States, and help them stay competitive by being able to process and close their mortgage loans faster and more efficiently.”

“Loan officers don’t need to make phone calls to order each service separately, no documents need to be faxed back and forth, and the information is delivered directly to the loan officer’s desktop,” said Sylvia Fath, league vice president, business services. “By speeding up and simplifying this process, Rapid makes a credit union a more attractive lender in what has become a very fierce marketplace.”

“The Rapid system is an efficient tool to help credit unions improve their processing time and close real estate loans faster,” said Wes Millar, CUNA vice president of strategic alliances. “One of the features that makes it attractive for a national program is the credit unions’ ability to add their provider of choice if they are not already part of the 12,000-strong Rapid network.”

Credit unions can also receive discounts on certain products by using Fidelity National Financial and Fidelity National Information Solutions, Rapid’s preferred vendors.

A demonstration of Rapid will be available at the CUNA Future Forum in Honolulu, October 24-27. For more information, contact Tom Lybeck, product manager for CUNA’s strategic alliances at (800) 356-9655, ext. 4109, or Joyce King, lending services manager, California Credit Union League, (800) 472-1702, ext. 3403.