Mountain America Credit Union Introduces Commercial Quick Close

Sandy, Utah, UNITED STATES


WEST JORDAN, Utah, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Mountain America Credit Union is one of the first financial institutions to introduce eClose on commercial loans. Kristy Farnsworth, Ph.D. PC and The Mortgage Partner Inc. were the first business members to use Commercial Quick CloseSM for commercial real estate and SBA loan closings. The closing was executed using a digital closing platform provided by Pavaso, the creator of the mortgage industry’s only end-to-end digital closing solution.

Implementing Commercial Quick Close allows Mountain America Credit Union to continue to provide members with the most secure and convenient product offerings. In addition to shorter loan cycles and added security and convenience, Commercial Quick Close enables business partners to conveniently review documents on their own prior to the closing meeting, and to sign the documents at different times and locations. “At Mountain America Credit Union, we continually strive to deliver the best member experience possible,” says Mike Turner, chief lending officer at Mountain America Credit Union. “Shorter loan process time provides faster funding, allowing members to focus on growing their businesses.”

Mountain America Credit Union participated in the CFPB eClose pilot, making them the first company to conduct digital closings with the Pavaso Platform. Pavaso is currently revolutionizing the mortgage industry with their platform that connects all stakeholders in an all-in-one eClose solution. The Pavaso Platform contains a complete suite of products within a secure platform that enables all parties to collaborate throughout the life of the transaction. Efficient digital closings have become standard, while consumers are citing more positive closing experiences.

“It has long been a goal of Mountain America Credit Union and Pavaso to eClose commercial loans, which has now been achieved,” says Nancy G Pratt, VP of Partner Relations and Government Affairs at Pavaso. “Mountain America Credit Union has a rich history of embracing technology, resulting in significantly improving the member’s experience.”

Commercial Quick Close is now available to all Mountain America Credit Union business members. For more information, or to apply for a loan, visit www.macu.com/business/loans.

About Mountain America Credit Union
With more than 770,000 members and $8 billion in assets, Mountain America Credit Union assists members on the right path to help them identify and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 90 branches across five states, thousands of shared-branching locations nationwide and more than 50,000 surcharge-free ATMs. Mountain America—safely guiding you forward along your financial journey. Learn more at macu.com.

About Pavaso
Texas-based Pavaso is transforming the mortgage process with radically innovative digital mortgage closing technology facilitating fast, consistent, accurate and compliant closings every time. Pavaso offers a single, collaborative, secure portal promoting transparency, efficiency, consumer education and communication in a seamless format delivering value to every stakeholder involved in the transaction. For more information on how you can streamline your process and digitally transform your organization, call us at 866.288.7051 or visit www.pavaso.com.


        
Mountain America member Kristy Farnsworth (Kristy Farnsworth Ph.D. PC) closes on a commercial real estate loan. Mountain America members John and Penny Arens (The Mortgage Partner Inc.) close on an SBA loan.

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