Additional $1.00 per submission to OpenLending

Credit unions who have an existing relationship with OpenLending can now leverage the ability to submit applications for approval and certification from CU*BASE. All of the applicant and collateral information will be passed to OpenLending for decision and if approved the option to certify without the need to re-key.

Applications are worked from start to finish in CU*BASE following credit union policy. If an applicant falls into your credit unions requirements needing additional certification with OpenLending to back the loan, the application can be sent to the vendor.

Schedule of tasks:
If you have not already partnered with OpenLending, that relationship is required prior to the interface being active. The interface with CU*BASE does not include any onboarding requirements or costs from the OpenLending. Once the relationship with OpenLending is established and a store order is received, the Lender*VP Team will reach out to OpenLending on your behalf to notify them of the request. This will require developers from CU*Answers and OpenLending to wire up the connectivity between both platforms.

Technical Details
CU*Answers will require a copy of their Master Indemnification Agreement be signed by the CEO of the credit union prior to activating the interface.

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