Prime Alliance Solutions
Joe Brancucci, V.P. and Chief Lending Officer
BECU
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"It was apparent that if we didn't create a different experience for the borrower, we wouldn't be able to compete," said Joe Brancucci, BECU VP and Chief Lending Officer. "The results exceeded all expectations," Brancucci said.
Prime Alliance Solutions is an excellent example of what can be accomplished when we put our heads together with a forward-thinking business partner who's ready to seize a significant market opportunity — in this case, the fragemented credit union market.
A partnership between BECU (Boeing Employees' Credit Union) and Dexma, Prime Alliance Solutions created a membership organization of considerable clout. Our comprehensive mortgage solution now extends to more than 1,300 credit unions and is handling about 40 percent of the credit union 1st mortgage market.
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 These credit unions originated about $31 billion in loan volume in 2007 — placing Prime Alliance squarely in the ranks of a top 12 lender.
But we didn't stop there. We took our award-winning platform and added the Loan Fulfillment Center, so our customers have an intelligent, conditions-based workflow that completes the loan and delivers it electronically to investors.
www.becumortgage.com
BECU (www.becumortgage.com) is the largest credit union in Washington and one of the top ten financial cooperatives in the U.S. with more than 433,000 members and over $6.1 billion in assets. After partnering with Dexma, BECU reduced direct origination costs from over $1,200 to less than $400 a loan, and their pull-through rate went from 40 percent to above 75 percent.
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