Product & Service
pmiPAPERLESS Makes Debut
SAN FRANCISCO, Calif.-CMG Mortgage Insurance Co. has released pmiPAPERLESS, an electronic document management system that utilizes state-of-the-art technology to underwrite mortgage loans from document images.
"This new solution maximizes the responsiveness of CMG Mortgage Insurance Co.'s contract underwriting service," the company said, adding the technology minimizes turnaround time for members, and provides real-time reporting and automated quality control functions.
For info: www.cmgmi.com or (800) 909-4264.
$10M In Certificates Brokered
HALES CORNERS, Wis.-Corporate Central Credit Union has facilitated the largest single issuance of federally insured certificates of deposit in the nine-year history of Primary Financial's SimpliCD program.
Corporate Central member UnitedOne Credit Union in Manitowoc, Wis. issued $10 million in federally insured CDs through Primary Financial.
The $10 million was raised over three days and combined into just two CDs. Primary Financial is a CUSO owned by 29 corporate credit unions, including Corporate Central Credit Union.
Treasure State, CU Biz Group Agree
HELENA, Montana-Treasure State Corporate Credit Union has entered into a new joint venture with CU Business Group, LLC, to provide Montana CUs with a package of business loans, deposits, and other business services. CU Business Group provides business lending, deposit and consulting services to credit unions nationwide.
CU Business Group is jointly owned by eight corporate credit unions and has three other corporates as remarketing partners.
It is currently working with 117 credit unions in 23 states and has processed more than $200 million in loan packages for credit unions.
For info: www.tsccu.org