Government Employees Credit Union Implements Advanced New Mortgage Lending Technology.Business Editors &Technology/Banking Writers LIVONIA, Mich.--(BUSINESS WIRE)--Feb. 17, 2000 Dynatek's Loan Origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Software Allows Credit Union to Deliver Full Mortgage Services to Members Dynatek, a leading provider of mortgage software, announced the successful implementation of MorVision Loan Manager software at Government Employees Credit Union (GECU GECU Government Employees' Credit Union GECU Gas Engine Control Unit (marine engines) ) of El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. , Texas. GECU is a full service credit union serving more than180,000 members. Dynatek's Loan Manager software is used to originate, process, underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. and close mortgage loans. Pat Carmona, manager of GECU's Mortgage Department, said, &uot;We found MorVision's customization features extremely helpful. GECU offers a variety of lending services including home mortgages, refinancing Refinancing An extension and/or increase in amount of existing debt. , home equity and home improvement loans. The software gives us the ability to easily create unique loan programs and forms to suit each of our individual loan types.&uot; Dynatek provided operational and technical expertise and guidance through each step of the implementation process including having its technical staff onsite. There was little break in the business flow for GECU. Dynatek also provided comprehensive training and support to ensure maximum productivity and use of the software. &uot;Training is key because you cannot fully maximize the software overnight,&uot; Carmona said. Following implementation, Dynatek's Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and Customer Support staff coordinated efforts to make sure GECU received the most from MorVision's functionality and versatility. &uot;Dynatek provided immediate phone support which is critical during the implementation stage. Calls were taken live to ensure a smooth and timely installation,&uot; Carmona continued. MorVision's features include the ability to order credit reports and use that information to directly populate To plug in chips or components into a printed circuit board. A fully populated board is one that contains all the devices it can hold. data fields in the loan application. Using the latest Windows printing technology allows MorVision loan documents viewed on the screen, printed within the software. This feature alone saves valuable time in the origination process. MorVision's features include the ability to order credit reports and use that information to directly populate data fields in the loan application. Using the latest Windows printing technology allows MorVision loan documents viewed on the screen, printed or faxed within the software. This feature alone saves valuable time in the origination process. Jack Luhtanen, president of Dynatek, said, &uot;We're very pleased to have GECU as a customer. MorVision is a scaleable product that can be used by credit unions of all sizes. Our mission was to design software that would streamline the origination process by eliminating the need for the re-keying of information. This decreases the turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. on loan approvals for the borrower and, in turn, increases the loan volume for our credit union customers.&uot; About GECU of El Paso Government Employees Credit Union of El Paso is a community chartered credit union. It was founded in 1932 and currently has 186,707 members with assets of $620,263,000. For further information write GECU of El Paso, P.O. Box 20998, El, Paso, TX 79998-0998. About Dynatek Dynatek is considered one of the mortgage industry's top providers of mortgage lending software solutions. The company offers complete automated mortgage origination solutions for a wide range of financial institutions including mortgage brokers, mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. , credit unions, commercial banks and savings institutions. MorVision was designed as an advanced Windows-based mortgage origination system. Dynatek has corporate headquarters in Livonia, Michigan Livonia is a city located in the northwest part of Wayne County in the U.S. state of Michigan. As of the 2000 census, the city had a total population of 100,545, making it the eighth largest in the state. and regional offices across the nation. For more information on Dynatek, Inc. or MorVision, contact Michael Hammond at (800) 462-5545, via fax at (734) 462-4859, email mhammond@dynatek.com or write to Dynatek, 17488 N. Laurel Park Laurel Park can refer to:
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