Lima, Ohio-based Superior Federal Credit Union said it has used the efficiency of its the integrated point-of-sale to dominate its mortgage market by achieving 25% market share of mortgage loans, or five times the national credit union average.
The credit union services a $660 million portfolio, an increase of about $390 million since November 2008 when it launched the PowerSite integrated point-of-sale solution from Mortgagebot of Mequon, Wis., and has also decreased processing time by 50% and doubled the capacity of loans in each loan officer's daily workload.
Results from 2011 show the 46,000-member CU recorded $165 million in loan volume, closing 1,500 loans through its mortgage center and CUSO. Mortgage activity in 2012 is also set to outpace 2011, with nearly 1,000 loan applications and $35 million in loan volume in the first two months alone, the credit union said.
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