February 01, 2010Navy Federal Streamlines Mortgage Lending with MDA MindBox
VIENNA, Va. and WILMINGTON, Del. (Feb. 02, 2010) – Navy Federal Credit Union today announced it is providing best-fit mortgage and home equity loan options to its members with MDA MindBox’s ARTOptimize™.
Navy Federal Credit Union began working with MDA MindBox, a division of MDA Lending Solutions that provides advanced-decisioning solutions to the mortgage lending industry, after evaluating offerings from 20 vendors. According to credit union officials, ARTOptimize was chosen for its superior decisioning capabilities, powerful maintenance facilities and ease of integration into Navy Federal’s existing loan origination infrastructure.
“MDA MindBox’s ARTOptimize allows Navy Federal employees as well as our members to quickly determine the best possible loan options from our Web site based on financial situations and objectives,” said Joan Cox, vice president, Real Estate Lending. “Our primary mission at Navy Federal is to best serve the financial needs of our members, which includes providing the right loan product for their individual need. We can now do that within minutes instead of hours.”
MDA MindBox’s ARTOptimize personalizes each step in the loan origination, deal negotiation, deal structuring, optimization and underwriting process. ARTOptimize integrates credit data from multiple sources, analyzes that data based on company-specific policies, prices the final product, provides suggested strategies for lowering costs or creating a debt portfolio and gives employees and counselors information about the best loan products to cross sell.
“The Navy Federal Credit Union implementation is a prime example of how MDA MindBox’s solutions can improve member service and streamline the loan decisioning process,” said Bill Richer, president of MDA MindBox. “By integrating the advanced capabilities of ARTOptimize into Navy’s Web site, MDA MindBox is delivering a powerful tool that Navy Federal Credit Union can leverage to best serve both existing and potential members.”
About Navy Federal Credit Union
Navy Federal Credit Union is the world's largest natural person credit union with $40 billion in assets, 3.4 million members, 180 branch offices, and 7,100 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org.
About MDA Lending Solutions, Inc.
Wilmington, Del.-based MDA Lending Solutions provides advanced information solutions that can improve the decision-making and operational performance of customers by reducing the time, cost and risks involved in real estate transactions. The company offerings include MDA DataQuick®, MDA MindBox® and traditional settlement services, such as collateral valuation, title and property search, flood compliance, residential credit and closing/settlement products. For more information, visit
http://www.mdasolutions.com/ or call (888) 299-8787.
MDA DataQuick® offers a wide range of information including property history and characteristics, sales and loan information, market valuation and neighborhood information. For more information, visit
http://www.dataquick.com/ or call (888) 604-DATA.
MDA MindBox® is a leading provider of advanced decisioning solutions featuring automated rules-based decision technology that optimizes customer interactions and streamlines back-end workflow and business operations for the mortgage lending community. For more information, visit
http://www.mindbox.com/ or call (877) 650-MIND.
