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Contact:
Linn Cook
MeridianLink, Inc.
(714) 708-6950
Lncook@meridianlink.com
MeridianLink completes direct integration with
Fannie Mae on LoansPQ platform
Costa Mesa, California – May 15, 2004 –
MeridianLink is proud to announce the completion of
a direct integration of its LoansPQ Transaction Manager
with Fannie Mae's automated underwriting system. MeridianLink's
LoansPQ is a cutting-edge online decisioning and lending
solution designed to help financial institutions streamline
their loan inquiry processes, significantly reducing
their operating costs and improving the lending experience
for their valued customers.
With the new, direct connection to Fannie Mae, the
innovative LoansPQ Transaction Manager enhances the
online lending capability of credit unions. Now, credit
unions can seamlessly submit mortgage loan applications
to Fannie Mae's Desktop Underwriter system, where borrowers
are instantly approved according to Fannie Mae's guidelines.
With LoansPQ, credit union members have, at their fingertips,
a fast and convenient link to the nation's largest financing
source for home mortgages.
“We're extremely proud of the relationship we
have with Fannie Mae,” says Edward Guerin, Director
of Credit Union Development at MeridianLink. “Having
a connection to Fannie Mae means credit union members
have even greater access to mortgage opportunities through
their credit union. It's an exciting addition to the
LoansPQ Transaction Manager that allows credit unions
to not only be more competitive technologically, but
to also maintain the level of customer service that
is the hallmark of credit unions.”
In line with the company's commitment to innovation
and meeting customer needs, MeridianLink has recently
added two new enhancements to the LoansPQ platform.
First, new to LoansPQ is a unique membership application
module, called Xpress Membership, which links credit
union membership inquiries simultaneously with automated
loan pre-qualifications.
When interested consumers visit a Credit Union website,
Xpress Membership provides consumers with an opportunity
to apply for credit union membership. After submitting
an application, Xpress Membership determines whether
a consumer meets minimum guidelines for credit union
membership, and provides an instant pre-qualification
on up to five different loan products, including vehicle
refinance loans, mortgage refinance loans, home equity
lines of credit, credit cards, and debt consolidation
loans. Xpress Membership provides a simple and convenient
method to turn membership inquiries into loan offers.
Secondly, MeridianLink has added a sixth loan product
type to LoansPQ – business loans. LoansPQ now
enables credit union members to instantly pre-qualify
for business loans. Utilizing the LoansPQ Recommendation
Engine, credit unions can determine whether a consumer
meets minimum lending guidelines on certain business
loan products.
These latest enhancements to LoansPQ provide even greater
opportunities to increase credit union lending and reach
out to new consumers. For these reasons, MeridianLink's
LoansPQ Transaction Manager is the ideal tool for credit
unions to improve the efficiency of their loan operations
by providing a convenient, fully-automated method for
pre-qualifying members while simultaneously cross-selling
various loan products. More information can be found
at www.loanspq.com.
ABOUT MERIDIANLINK, INC.
MeridianLink, Inc. is a leading provider of enterprise
business applications for the financial information
and services industry. MeridianLink's Internet delivery
of advanced business applications enables them to provide
cost-effective and powerful technology solutions that
transform the way financial institutions interact with
their customers. Since 1998, MeridianLink has been providing
technology solutions for credit unions and continues
this commitment to innovative development with LoansPQ
Transaction Manager. Based in Costa Mesa, California,
MeridianLink's goal is to create smart business solutions
that add real value. For more information, visit MeridianLink's
corporate website at www.meridianlink.com.
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