Neighborhood Mortgage Solutions, a credit union service organization that provides mortgage servicing to 30 credit unions, has implemented technology to allow borrowers to make mortgage payments at the teller windows of their credit union.
Southfield, Mich.-based GCC Servicing Systems' G/Teller interface allows credit union members with mortgages to make a monthly payment at the teller window. G/Teller processes the payment information and transmits it to the G/SERV system of record platform that Frankenmuth, Mich.-based Neighborhood Mortgage Solutions uses to manage its operation. The deal was announced Wednesday.
A credit union service organization is like a credit union for credit unions. The member organizations share ownership in Neighborhood Mortgage Solutions and benefit from the efficiency of a consolidated servicing operation, which has a servicing portfolio of about 1,000 mortgages.
Using the technology enables a CUSO to combine data from the participating credit unions in a single repository and gives the CUs more opportunity to build personal relationships with their mortgage borrowing memberships, Neighborhood Mortgage Solutions said.
Roughly 25% of mortgage payments come in through the branches and G/Teller provides tellers with time-sensitive loan information like payment history and the status of escrow and tax accounts that they can share with borrowers face-to-face.
