Family First Federal Credit Union to Simplify the Mortgage Lending Process with MortgageBot

With the Requirements for Approval on Mortgages Tightening, MortgageBot Assists Members in the Pre-Approval Process and Provides Access to Multiple Loan Options

OREM, Utah--(allCUnews)--Family First Federal Credit Union today launched MortgageBot, an Internet-based solution that simplifies and streamlines the mortgage lending process for its members.

Leveraging online software, Family First members can fill out an online mortgage application, get pre-approved and receive a full set of disclosures in 20 minutes or less. Members can use this online solution for all real estate lending needs including: first mortgages, mortgage refinances, home equity lines of credit and other mortgage-based products.

“In response to the sub-prime mortgage woes, the industry is now facing tighter regulations and, therefore, underwriters have stricter requirements for loan approvals,” said Mike Ballantyne, mortgage lending manager at Family First Federal Credit Union. “MortgageBot provides us with the ability to pre-approve our members and get them into stable loans as we navigate through the changing requirements of the industry.”

With the launch of MortgageBot, Family First has taken the hassle out of applying for a loan, as members can now have access to real-time pre-approvals morning or night. With complete flexibility in applying for a loan, MortgageBot empowers members to be in control of the process without losing any critical time in waiting to be pre-approved.

Dick Chappell, president and CEO of Family First Federal Credit Union, believes that MortgageBot is a reflection of the commitment the credit union has to improving the way they serve their members. “Giving our members access to online loan approval puts us on a competitive footing with other larger mortgage institutions, as well as national leaders. In fact, credit unions typically have first crack at the loan with their members, and being able to provide access to the lending department 24/7 will ensure us the opportunity to best assist our members in determining what mortgage option best meets their needs during this volatile time in the industry.”

Family First is also encouraging their members to become educated on the various types of mortgage lending options that are available. The credit union prides itself on not throwing members into bad loans, such as interest-only loans. To get additional information or to try MortgageBot, please visit www.family1stcu.com.

ABOUT MORTGAGEBOT

MortgageBot simplifies and accelerates the online mortgage-lending process. The solution enables Family First to take mortgage applications over the Internet, through the branch, or from a loan officer’s laptop. The intelligent and interactive functionality enables borrows to complete an entire mortgage application, get pre-approved, and receive a full set of disclosures in 20 minutes or less.

ABOUT FAMILY FIRST FEDERAL CREDIT UNION

Family First Federal Credit Union has been providing excellent financial services since 1947. Branches are located in American Fork, Pleasant Grove, Orem, Springville, Payson, and Lindon. A Home and Business Loan Center is located in Orem, and online services are offered at www.familyfirstcu.com. Anyone who lives, works, or attends school in Utah County, or has a family member who does, is eligible for membership. As your primary financial institution, Family First Federal Credit Union is dedicated to providing its members with high quality service, friendly staff and convenient account access to better meet their needs.

Jennifer Stoddard, Special Assistant to the President, Member Services, also appears monthly on ABC4’s “Good Things Utah” providing financial advice and answering questions about finances. Family First has a section on its Web site dedicated to answering questions called “Ask Jenn.” The “Ask Jenn” feature can be found on Family First’s Web site at https://www.family1stcu.com/askJen.php.

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