Texas-based Security Service Federal Credit Union (Security Service), with more than $9.5bn in assets, has extended its contract with Accenture-unit Mortgage Cadence.
Under the agreement, Security Service will continue to use Mortgage Cadence’s loan-origination technologies until at least 2024.
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The credit union will utilise Enterprise Lending Center, Borrower Center and document functionalities.
The deployment of these technologies is said to have improved the credit union’s productivity. Additionally, Security Service’s Cost-to-Close is said to be significantly lower compared to the client average and the Mortgage Bankers Association average.
Security Service executive vice-president and chief lending officer Charles Goss said: “Ensuring that our members, realtors and builders have the best experience possible is always our goal.
“The Mortgage Cadence software provides us with advanced capabilities in a robust platform to ensure a smooth process from the time of application to the time of funding.”
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By GlobalDataSecurity Service has been utilising Mortgage Cadence loan origination solutions since 2007.
Accenture Mortgage Cadence CEO and managing director Bryan Ireton said: “Enterprise Lending Center’s dynamic and innovative platform gives larger lenders like Security Service a comprehensive and agile loan origination system that can be personalised depending on their needs, enabling them to lend confidently in today’s diverse, competitive and rapidly changing market.”
Security Service has 66 locations in the states of Texas, Colorado and Utah and more than 770,000 members.
