Episodes

#2794: What's on the Horizon in Payments and AI for Credit Unions in 2022...

1/20/2022

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Payrailz CEO Fran Duggan stopped by the show to share an update on the company's CUSO CU Railz. Frans discussed the technology behind CU Railz, client usage, the tremendous growth that they have experienced, and much more.

Fran also talked about CU Railz receiving an investment from the Curql Fund and how that funding will help foster more growth and expedite future plans.

Lastly, he shared the latest payment and AI tends credit unions should know about heading into 2022, as well as a few other items on the horizon.

Another fascinating tech talk with Fran. Check it out and let us know your thoughts.

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#2793: How to Prevent Mortgage Fraud by Identifying Red Flags...

1/20/2022

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In our January 2022 edition of Mortgage Monthly, brought to you by the fine folks at CU Members Mortgage, we discuss the increase in mortgage fraud. As we all know, fraud in many forms boomed during COVID and it isn't letting up anytime soon -- mortgage lending is right there in the mix.

CU Members Mortgage Executive Sales Consultant Conrad Johnson joined us to share key findings in his research that turned out to be a data-filled Mortgage Monthly entitled: Increase in Mortgage Fraud and How to Prevent Fraud by Identifying Red Flags."

Here are some of the items we covered in this episode:

2 types of fraud: fraud for profit and fraud for housing
locations nationwide where fraud ranks highest (includes metro areas)
purchase vs. refinance fraud
other types of fraud: falsified down payment, employment, occupancy, liabilities, identity, etc.
employment verification
tips to mitigate fraud at your credit union
resources to double check applications (see Public Info below)
specific red flags to look for
lasting effects from the pandemic
cost of fraud per member continues to increase

Public Info
Salary benchmarks: salary.com
Business Info: secsstate.com
Real estate data: realtor.com

Fee Based:
Consumer Info: lexisnexis.com
Employment: theworknumber.com
Real estate data: realquest.com

There's much, much more in this latest episode of Mortgage Monthly. Check it out and let us know your thoughts. And be sure to watch the entire recording below for all the details.

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#2792: What PURE IT's Acquisition of Purity Technology Means for Credit Unions' Security...

1/19/2022

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PURE IT Credit Union Services’ CEO Jack Smith and Purity Technology's CEO Robbie Wright joined us on the show to share their news regarding PURE IT (CUSO) acquiring Purity Technology to bring more secure, modern mobility services to credit unions.

Both Jack and Robbie expand on the "why" and what it means for credit unions moving forward, as this is the first step of many in 2022 to provide a more robust technology solution.

In addition, they talk about the many pain points this acquisition will remedy for credit unions, as well as the immediate goals they look to achieve in this area -- especially from a secure, staffing POV.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

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#2791: CUNA Shares Latest Mask and Vaccine Mandates for 2022 GAC...

1/19/2022

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CUNA Chief Products and Services Officer Todd Spiczenski joined us on the show to share the latest mask and vaccination mandates, designated by the District of Columbia, for CUNA 2022 Governmental Affairs Conference (Feb. 27 - Mar. 3, 2022). As of now (Jan. 19, 2022), all attendees must wear a mask indoors and be fully vaccinated to attend the conference in person.

Todd reminds us that this mandate is not just for the conference at the convention center but for all surrounding restaurants, retail stores, hotels, museums, etc. in the D.C. area. So it's best to keep your mask and vaccination card with you at all times, as there are many activities that occur after conference hours that will be affected by this order.

For the conference, Todd says CUNA has incorporated an online registration process that allows attendees to provide proof of vaccination. So when you get to the conference site to check in, you're good to go. Attendees must be fully vaccinated two weeks prior to the GAC, which would be Feb. 14 at the latest.

As for "Hiking the Hill" to meet with your representatives, that is a "fluid" situation, as well. Stay tuned for more information on that part of the conference on CUNA's website. But it sounds like virtual video visits will be the prevalent choice.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

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#2790: Truliant First to Complete Fully Remote Home Mortgage Closing...

1/18/2022

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Truliant Federal Credit Union VP of Mortgage Beth Eller joined us to share the big news about Truliant being the first North Carolina-based financial institution to complete a fully remote home mortgage closing. Beth discusses why they went down this road, as well as it benefits to the member and what's next for eClosings.

In addition, she talks about what will drove the mortgage business in 2022, as far as demand and volume in comparison to last year -- and what the credit union is doing to help bolster demand.

Lastly, Beth addresses what will happen with inventory/home values in 2022, as well as how will interest rate increases impact the market and will there be impediments to home building this year.

Check it out and let us know your thoughts. And be sure to watch the entire episode for all the details.

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<<Previous

#2794: What's on the Horizon in Payments and AI for Credit Unions in 2022...

#2793: How to Prevent Mortgage Fraud by Identifying Red Flags...

#2792: What PURE IT's Acquisition of Purity Technology Means for Credit Unions' Security...

#2791: CUNA Shares Latest Mask and Vaccine Mandates for 2022 GAC...

#2790: Truliant First to Complete Fully Remote Home Mortgage Closing...

Mike Lawson, Host

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