May 25, 2006 — Coastal Community Credit Union has become the latest lender to begin accepting mortgage applications through MorWEB, Marlborough Stirling Canada's mortgage origination system for brokers.
As a web-based service, MorWEB enables mortgage brokers to capture customer and property details and submit applications directly to Coastal Community's Broker Centre in Nanaimo, BC. Throughout the process, online file tracking allows brokers and underwriters to view the status of pending deals in real time, effectively streamlining communication between the broker centre and its broker partners. Among the potential benefits to Coastal Community are more efficient underwriting processes, faster turnaround, and improved speed and consistency in credit decisions, as well as a significantly decreased reliance on paper and faxes.
Deron Colegrave, Manager of Broker Services for Coastal Community, says: "MorWEB has been an attractive option for us ever since we made the decision to centralize our broker services, and we are pleased to be going ahead with this implementation. During our assessment of the system, not only did MorWEB meet our requirements, but the support from Marlborough Stirling Canada has been superb. They have been very responsive to our requests and continue to work hard to accommodate Coastal Community Credit Union. When you couple that with our strong relationship with the independent brokerage firms on Vancouver Island that are already signed on with MorWEB, it is easy to see why Marlborough Stirling Canada is the right fit for us."
Stewart Eadie, Marlborough Stirling Canada's Vice President, ASP Accounts, adds: "We are delighted that Coastal Community is moving forward with MorWEB and wish to thank them for their vision and support. With the recent series of announcements regarding the many brokers going live on MorWEB, we are receiving increased interest from a second wave of lenders to get connected. We are working actively with these lenders and are committed to building positive relationships, whether regional or national in scope."
For more than 60 years, Coastal Community Credit Union has been committed to providing quality financial services to its members, to improving the well-being of its communities and to supporting the development of its employees.
Coastal Community Credit Union is the largest credit union based on Vancouver Island, with more than 80,000 members, 600-plus employees, and over $1 billion in assets. From Victoria to Port Hardy, Coastal Community offers complete financial services and solutions through community branches, insurance offices, financial planning locations and business centres across Vancouver Island. For more information see: www.cccu.ca
Manager, Broker Services
Coastal Community Credit Union
Marlborough Stirling Canada (MSC) is a technology services provider to the Canadian mortgage industry. MSC offers a complete range of hosted and licensed software solutions capable of achieving seamless straight through processing of mortgage business from initial customer inquiry to final loan discharge. MSC's solutions include MorWEB (origination system for brokers and lender sales forces), Omiga (underwriting, fulfillment and funding), and Optimus (mortgage servicing).
David P. Nichol
Regional Director, BC
Regional Director, Prairies
Vice President, ASP Accounts