 |
 |
||||||
|
|||||||
Recent Announcements |
||
PRIME ALLIANCE REACHES OUT TO CREDIT UNIONS WITH MORTGAGECLICK™ Woburn, MA – April 21, 2005: Prime Alliance Solutions, Inc. (PA), a leading provider of mortgage technology to the credit union industry, announced it has become a shareholder in MortgageClick™. MortgageClick, the web-enabled mortgage decisioning platform powered by PA, is distributed primarily to credit unions that would otherwise be unable to access this powerful lending solution. The platform was created in 2003 as an extension of Members Mortgage Company (MMC), a Woburn, MA based mortgage provider that works exclusively with credit unions. In January 2004, MortgageClick was spun-off and has continued as a separate entity with impressive growth. Developed under the credit union philosophy of helping others help themselves, MortgageClick created a cost-effective way to share cutting-edge technology by pulling together a network of credit union users. Joe Zampitella, MMC President, explains, “By giving credit unions of all sizes access to this technology, we’re helping the industry gain market share in an extremely competitive environment.” Since its inception, MortgageClick has built over 90 sites, experienced a 350% growth in transactions and processed $2 billion in mortgage requests. Once only available to the most sophisticated lenders, the technology used by MortgageClick allows members to apply for a mortgage online 24-hours a day, receive a decision within minutes, and check the status of their loan once it is in process. Additionally, the platform puts the same origination tools in the hands of branch and call center staff, loan officers, and members; thereby, creating more opportunities for the credit union to capture members’ home financing needs at the point of sale. Dan Green, PA Executive Vice President, sees the agreement as a way to broaden PA’s reach. He said, “MortgageClick is supporting the backbone of the credit union movement by sharing this technology, and our investment in this initiative demonstrates PA’s commitment to growing the industry and addressing the needs of smaller credit unions.” The
MortgageClick family has continued to grow, with recent additions
including: New England Teamsters FCU, a $44 million credit union
with 28,000 members located in Arlington MA; Pacific Northwest CU,
a $125 million institution with 14,000 members in Portland, OR;
Freedom CU, with $285 million in assets and 22,000 members located
in Springfield, MA; RTN FCU, a $372 million credit union with 28,000
members in Waltham, MA; and First Pioneer CU, a $77 million credit
union with 5,500 members located in Wilbraham, MA. |
||
Prime Alliance / Fannie Mae
|
||
Case Studies / MortgageClick News
|
||
Industry Related
|
||
| MortgageClick Reg. U.S. Pat. & T/M Off. | ||