Rapid Real Estate Service available through the Strategic Alliance of CUNA, California League
Web-Based Solution Improves, Expedites Ability to Process and Close Mortgages

October 18, 2004

FOR IMMEDIATE RELEASE
Contact:
Katye Long, CUNA Communications
(608) 231-4038
klong@cuna.com

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.

About CUNA & Affiliates
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves more than 90 percent of America’s nearly 9,500 credit unions, which are owned by more than 83 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. CUNA Strategic Services, Inc. (CSSI), owned jointly by CUNA and the state leagues, provides credit unions with access to high quality products, services and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development.

About the California Credit Union League
With headquarters in Rancho Cucamonga, Calif., the California Credit Union League provides information, education, advocacy and support services to more than 480 credit unions in California and Nevada. More than 9.7 million Californians and Nevadans are credit union members.

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