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Lending Solutions Inc. Launches WebClose Service
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ELGIN , Ill. , May 9 , 2006 – Lending Solutions Inc., the leading provider of lending center services and consulting programs for financial institutions across North America , launched its WebClose feature to communicate over the Internet with credit union members during the loan origination process. WebClose, the first interactive Web-based consumer loan origination feature, enables Lending Solutions to engage a credit union member in a discussion regarding rates, payments and terms during the loan application process. Additionally, Lending Solutions’ staff members can cross-sell ancillary loan products as well as credit insurance over the Web. “We have found that while Internet-based loan origination is a rapidly growing arena, many of the credit union members desire a level of human interaction as well,” said Jeff Frantz, senior vice-president of Lending Solutions. “Our testing has shown that providing interaction through WebClose increases funded loans by 22 percent at credit unions and has a 36 percent credit insurance penetration rate,” Frantz continued, “We constantly strive to create products and services that increase revenue for our clients, WebClose is designed to help credit unions close more loans that originate over the Internet.” "Lending Solutions’ new WebClose program is a terrific new service for TopLine and our members,” said Michael Edwards, vice president of lending and operations at TopLine Federal Credit Union. “In addition to providing enhanced service to our members, it has allowed us to speed up the closing process and reduce the number of loans that could be potentially lost to the competition." The WebClose feature begins upon approval of an online loan application, when an additional window opens on the member’s screen as a congratulatory message on the loan approval. Subsequently, the member is invited to participate in an online chat with Lending Solutions staff to discuss the loan terms and loan enhancements that may be of interest. Details of the loan closing are then presented to the member and immediately transmitted to the credit union for finalization. About Lending Solutions Inc.
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