CARMEL, Ind. – Merchants Bank of Indiana (NASDAQ: MBIN) (“Merchants Bank”), today announces the creation of Bank Credit Union (BCU) Mortgage Services, a third-party mortgage origination program that equips qualified financial institutions to originate secondary market eligible home loans.
Powered by Merchants Bank, recently ranked the best-performing public bank in the country, BCU Mortgage Services empowers smaller banks and credit unions, who may not have the capacity or desire to maintain a full service mortgage department, to offer, originate and support mortgage lending services that retain and deepen customer and member relationships. Qualified financial institutions will have access to a variety of products, including conventional, Federal Housing Authority (FHA) and U.S. Department of Agriculture (USDA) home loans.
“Mortgage lending is a service business and is crucial to community banks, credit unions and the communities they serve. It is also cyclical and can require scale,” said Rob Wilson, Vice President Correspondent Sales Executive for Merchants Bank of Indiana. “BCU Mortgage Services allows our financial institution partners to keep their customers, maintain customer contact, increase revenue and reduce costs and credit risk. We provide a complimentary online application for originations, all required disclosures, processing and underwriting.”
Institutions that partner with BCU Mortgage Services:
- Have access to long-term, fixed-rate mortgage products;
- Have greater customer and member retention and share of wallet;
- Maintain contact with customers and members throughout the loan process;
- Receive a customized and branded online mortgage application to add to its website;
- Lower risk to the institution while generating fee income;
- Select compensation plans that meet market competitiveness;
- Use fulfillment processes to close loans on time, with no additional overhead; and
- Have access to a team with extensive experience in secondary market lending to answer questions along the way.
To learn more about BCU Mortgage Services, visit www.bcumortgageservices.com. To learn more about Merchants Bank of Indiana, visit www.merchantsbankofindiana.com or find Merchants Bank on Facebook, LinkedIn, Twitter and Instagram.