Altra Federal Credit Union Transforms Home Financing for Members and Employees with nCino’s Mortgage Suite
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Region
Institution
Altra Federal Credit Union (Altra) is a member-owned credit union with branch offices in Wisconsin, New Jersey, Minnesota, Tennessee, Texas and Colorado. Altra strives to provide consistent and up-to-date products, services and guidance to its members through a wide range of financial services.
As members began to expect a digital-first homebuying experience, Altra started searching for a digital solution capable of supporting an end-to-end mobile home buying experience.
“Our vision statement is ‘helping you live your best life,’ and supporting members’ journey to homeownership is central to that goal,” says Jordan Houghtaling, Manager of Real Estate Systems, Altra Federal Credit Union. “Personal relationships with members are the heartbeat of our mortgage operation. nCino allows us to grow, manage and evaluate the impact of those relationships with just a few clicks.”
Solution
The Credit Union sought to invest in a point-of-sale system with a centralized mobile app that could support electronic mortgage closings (eClosings) and mobile-first functionalities.
Altra’s new and improved home buying journey begins in the mobile app, and never has to leave for the entire process. Once a member or prospect submits an application, loan officers can communicate directly with the borrower and real estate agents to move the process forward to close.
The comprehensive closing abilities of nCino’s Mortgage Suite allow for all types of mortgage closings, including traditional, hybrid and eClose options.
As one of Altra’s real estate agent partners points out, “eClosings generally only take about 10 minutes through nCIno, so if an agent is not on time for a closing appointment, they truly might miss it! The nicest thing about a shortened closing process is that it leaves more time for the buyer, sellers and agents to wrap things up and celebrate the new homeowners. It’s a better experience for everyone involved.”
Results
Altra’s entire real estate team trusts nCino to power many crucial elements of their mortgage operation. With nCino’s Mortgage Suite, the Credit Union is achieving real results, like:
Closing loans with less time and effort
Enhanced member experience and collaboration
A secure way to send high-priority financial information
Comprehensive performance insights
Hands free incentive compensation management
By creating a mortgage loan experience that engages prospective homebuyers, connects real estate agents and empowers loan officers, Altra will continue to serve its members with top-of-the-line serviceswell into the future. For more information on Altra’s journey, download the full customer story now.