Coastal Federal Credit Union Signs Up for IBM Loan Fulfillment Services

01.04.08 - 20:07 ... source : IBM - United States

... ARMONK, NY - 01 Apr 2008: IBM Lender Business Process Services, Inc. (IBM LBPS), a wholly owned subsidiary of IBM (NYSE: IBM), today announced that Coastal Federal Credit Union has entered into a five-year contract whereby IBM will provide comprehensive private label mortgage loan fulfillment services. Coastal Federal Credit Union, based in Raleigh, NC, is a not-for-profit, member-owned, financial cooperative with nearly 172,000 members and approaching $2 billion in assets. The credit union was chartered in 1967 and has been offering mortgages for thirty-two years. As part of the agreement, IBM LBPS will provide Coastal with a full range of lending services, including loan application processing, underwriting, customer care, vendor management, document preparation and loan closing coordination. IBM will enable Coastal to replace much of the fixed costs associated with typical loan fulfillment operations ...» Next (HTML)