CU Direct Connect changes name to Origence Lending
Centennial, Colo., March 02, 2022 (GLOBE NEWSWIRE) — CU Direct Connect, an industry leader in lending operations support solutions, announced that it has changed its name to Origence Lending Services, a brand of CU Direct.
The new name reflects the evolution of the business, while aligning its products and services more closely with the Origence brand, providing Origence with a stronger portfolio of lending technology solutions.
The company saw significant year-over-year growth in 2021 in both funded loans and transactions through its lending programs and services. Company’s lending operations solutions grew 105% over 2020, including 365% increase in auto refinance loans funded, 348% increase in funded loans for recreational vehicles and motorsports and a 128% increase in funded auto leases. The lending transaction provider also reported that transactions across all platforms were up 65% year over year.
Lending operations services such as stacking, letter processing and verification calls also saw double-digit growth in 2021.
The company touted notable new client signings in 2021, including New York-based Bethpage, Bethpage Federal Credit Union ($11.4 billion in assets), Manhattan Beach, Calif.-based Kinecta Federal Credit Union ( $6.6 billion in assets), Tucson, Arizona Vantage West Credit Union ($2.5 billion in assets) and Corvallis, Oregon-based Oregon State Credit Union ($2.1 billion in assets). assets).
“Bethpage is thrilled to partner with CU Direct Connect to provide our dealer partners with a superior level of new vehicle leasing service,” said Christopher Walsh, AVP Consumer Lending Products for Bethpage FCU. CU Direct Connect provides a full review of rental packages submitted by our dealers to ensure there are no errors or discrepancies and allows us to continue to provide an excellent service experience to our dealers and our members.
“CU Direct Connect has been a great resource to assist with underwriting for our dealer partners,” said Jim Gibson, senior vice president of branch services for Oregon State Credit Union. “We currently use CUDL for our dealer referral program and it seemed natural to use them to meet our weekend, holiday and overflow underwriting needs.”
Credit unions have historically used an outsourced provider for staff augmentation only, but CUDC President Brian Hamilton said “the new value proposition for lenders is the ability to expand geographically across new markets or offer new loan products without having to guess how to recruit staff.
“With innovative technology and versatile domain expertise, Origence Lending Services has helped level the playing field for lenders on multiple fronts. By expanding the capabilities of the organic workforce, our lenders have been able to increase operational efficiency, explore new businesses with less risk, and respond quickly to market changes.
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About Origence Loan Services
Origence Lending Services, a brand of CU Direct, provides lenders with flexible lending operations solutions designed to meet changing demands, complement existing capabilities, and redirect resources to seek new growth opportunities. Our mission is to provide lenders with dynamic solutions based on superior technology and deep industry expertise. Solutions include full-service loan underwriting, processing, call services, letter generation, financing support and additional origination services. Origence Lending Services is headquartered in Centennial, Colorado. For more information, visit www.origencelendingservices.com.