CUNA Mutual Group is partnering with the Canada-based HomeBank.
Technologies Inc. to enable U.S. credit unions to offer what the companies said is a "full-featured, moderately priced, Web-based loan origination system." The agreement with CUNA Mutual will aid HomeBank Technologies in the development of a U.S. version of its ProLender loan origination system. The Web-based ProLender system will allow credit unions to provide members with 24/7 access with CUNA Mutual's loanliner.com. Loanliner.com will provide the front-end loan application component while ProLender will provide the back-end, loan processing and origination services. The U.S. version of ProLender will use LOANLINER as the default document set, incorporate CUNA Mutual Group's calculator as the default calculator, and incorporate loanliner.com as the primary member interface. It is expected to be available by the fourth quarter of 2002.
For info: www.cunamutual.com or www.homebank.net.