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Hudson Valley Federal Credit Union Expands Mortgage Business by Using Mortgagebot with Loan Prospector

Hudson Valley Federal Credit Union (HVFCU), a Freddie Mac Seller/Servicer, started using Mortgagebot with Loan Prospector one year ago and their only concern is – they wish they had done it sooner!

HVFCU, located in Poughkeepsie, New York, with nearly $2 billion in assets, is now fully leveraging their brand using Mortgagebot with Loan Prospector. Affinity is important to HVFCU and their members. According to HVFCU, Mortgagebot with Loan Prospector certainly has led to better lending results and has differentiated them in the marketplace.

“Mortgagebot is a good system and has done quite a bit to advance the automation of lending in the credit union industry,” said Ginny Bromsey, director of Real Estate at HVFCU. “Our reasons for choosing Mortgagebot were simple - Mortgagebot has over 375 plus Freddie Mac Sellers/Servicers using their system.” That’s a powerful endorsement, according to Bromsey.

In addition, other important criteria for HVFCU in their selection of Mortgagebot with Loan Prospector was the system’s product offerings and pricing support. Streamlining the borrower experience at the point-of-sale is something HVFCU needed to do with today’s competitive marketplace.

“Collaboration is the key, and there is no other provider in the industry that can provide us more collaboration opportunities than Mortgagebot,“ said Bromsey.

Freddie Mac/ Credit Union National Association Alliance A member of the Credit Union National Association (CUNA) and a participant in the Freddie Mac/CUNA Alliance, HVFCU takes advantage of many alliance advantages, including Mortgagebot with Loan Prospector, and special alliance cash execution competitive advantages for more of their mortgage product sales.

Mortgagebot with Loan Prospector Mortgagebot with Loan Prospector’s, business-to-consumer website enhances loan origination channels. With Mortgagebot, customers can enhance their point-of-sale solutions to source more loans, process them more efficiently, and expand their mortgage business. In less than 60 days and for a fraction of what customers would pay to build or acquire a similar product, they can enhance their website to deliver online loan approvals, pricing, rate locks and localized closing cost estimates, and integrate all this data into their loan origination system for further processing. Mortgagebot with Loan Prospector provides a fully functional website that customers brand and control.

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