CU Companies to launch Quality Control Services on September 1

New Brighton, Minn (August 23, 2016) – With CU Companies' Quality Control (QC) Services successful completion of two full-beta tests, the company plans to launch this new service on September 1.

The beta test was performed on six loans between two separate credit unions. Specially-trained QC Services' staff found 42 exceptions for one credit union and uncovered one defective loan out of the three.

Contrary to popular conceptions, specially-trained and diligent QC staff should return more exceptions and provide opportunity for remediation than any other type of file review. "Too many companies rely on vendors who use unskilled, untrained, and inexperienced staff to review loans, resulting in consistent repurchase issues, systemic unnoticed errors, inaccurate measurement of risk in the pool, and negative business outcomes," stated CU Companies Quality Control Manager Joseph Prettner. "CU Companies' QC Services aims to provide the best quality control analysis available to get institutions on the right track."

One huge benefit that CU Companies' QC Services provides is that remediation can begin in as little as 15 days after selection. This allows many issues that are found on file reviews to be corrected and updated with the necessary information well before reports are due to Fannie Mae. CU Companies' process utilizes software that can search for missing documents before the loan is even assigned, preventing inaccurate missing document exceptions from being on the report.

Additionally, CU Companies stands out from its competitors with its superior communication and service. Establishing a good relationship from the beginning allows CU Companies QC Services to begin the remediation process quickly. From there, the staff can find more exceptions and correct them at a higher rate than competitors.

"Poor quality control culture leads to more repurchases, increased risk, low customer satisfaction, and ultimately fewer objectives being met," said Prettner. "With the help of CU Companies QC Services, financial institutions can prioritize quality control and quickly get errors fixed, saving them ample time that can be passed on to valued customers."

About CU Companies: CU Companies was founded in 1987 by three Minnesota credit unions to offer a competitive mortgage solution for their members. Now CU Companies is owned by over 60 credit unions in Minnesota and offers a wide range of products and services to numerous credit unions and community banks across the nation. For more information, click to CU Companies is a DBA of C.U. Mortgage Services, Inc., NMLS #1037. Equal Housing Lender.