Members Mortgage Brings Prime Alliance Online Mortgage Approval to New England CUs

WOBURN, Mass. – More than 100 credit unions throughout New England that do business with Members Mortgage Company can now provide their members with online mortgage approval as a result of the company’s purchase of the Prime Alliance mortgage solution. Members Mortgage purchased the Prime Alliance solution in late 2002 and recently completed converting its credit union clients to the system. Already three credit unions in Massachusetts – Merrimack Valley FCU, Tremont CU, and St. Jean’s CU – two in Connecticut – New England FCU and Fairfield County FCU – and one in Maine -Rainbow CU – are offering the online mortgage service to their members. The Prime Alliance solution is branded as MortgageClickT for the New England CU market. Members Mortgage has implemented a way to monitor the number of transactions for each credit union’s Web site. CUs in turn, are invoiced a $100 transaction fee that covers various items such as accessing Fannie Mae’s Desktop Underwriter product, completing a credit analysis on the member, and customizing a CU’s Web site with its mortgage product offerings.