AmeriCU to introduce a mobile mortgage lending experience powered by SimpleNexus

Rhea-AI Summary

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), announced that AmeriCU, a New York-based credit union, will implement its Nexus Engagement™, Nexus Origination™, and Nexus Closing™ solutions. This strategic move aims to modernize the homebuying experience for over 150,000 members and enhance process efficiencies. With $2.4 billion in assets, AmeriCU aims to increase operational efficiency and member satisfaction through SimpleNexus’ mobile-first technology. The integration will simplify workflows and enable loan officers to manage the mortgage process directly from a mobile app, resulting in a streamlined and connected homebuying experience.

Positive

• Collaboration with SimpleNexus is expected to enhance operational efficiency.
• Implementation of mobile-first technology will improve member experience.
• Integration with loan origination system allows seamless workflows.

Negative

• None.

New York-based credit union to implement Nexus Engagement™, Nexus Origination™ and Nexus Closing™ to modernize the member homebuying experience and gain process efficiencies

LEHI, Utah, Jan. 31, 2023 (GLOBE NEWSWIRE) -- SimpleNexus (https://simplenexus.com/), an nCino (NASDAQ: NCNO) company and developer of the leading U.S. homeownership platform for loan officers, borrowers, real estate agents and settlement agents, announced today that AmeriCU will implement Nexus Engagement™, Nexus Origination™ and Nexus Closing™ to provide a streamlined, mobile-first member experience.

Founded in 1950, AmeriCU is a member-owned, not-for-profit financial institution with more than 150,000 members and $2.4 billion in assets. AmeriCU’s mortgage loan originators help members achieve their financial goals by connecting them with conventional fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, Veterans Administration (VA) loans, home equity loans, home equity lines of credit (HELOCs) and more.

“At AmeriCU, the satisfaction of our members is always our number one priority,” said Stephanie McGuire, senior vice president of lending at AmeriCU. “By equipping our mortgage teams with intelligent tools from SimpleNexus, they will be able to offer our members a more holistic homebuying experience and achieve unprecedented operational efficiency.”

Nexus Engagement helps lenders engage pre-application leads and strengthen referral strategies with real estate agents via a shareable mobile app featuring integrated tools such as homesearch listings and a payment calculator. Nexus Origination, SimpleNexus’ point-of-sale (POS) technology, enables borrowers to apply for a loan, submit documents, monitor loan status, contact their loan officer, electronically sign (eSign) disclosures and more. Nexus Closing is a comprehensive solution that supports traditional, hybrid and fully digital eClosings. Leveraging these tools together will enable AmeriCU to offer members a modern, single-sign-on experience via a mobile app while benefiting from the productivity advantages of streamlined workflows.

To maximize the process efficiencies of SimpleNexus, AmeriCU will activate SimpleNexus’ native integration with the credit union’s new loan origination system (LOS). Bi-directional data syncing between SimpleNexus and AmeriCU’s LOS will enable originators to enjoy simplified workflows. For instance, loan officers will have the ability to quickly generate and send disclosure documents directly from the SimpleNexus mobile app.

“SimpleNexus is a cost-effective resource for credit unions that want to offer members a more convenient and connected homebuying experience,” said Ben Miller, CEO of SimpleNexus. “Our mobile toolset, made stronger by native integrations and an open API framework, facilitates a state-of-the-art homebuying experience from point-of-thought to close.”

About SimpleNexus
SimpleNexus, an nCino (NASDAQ: NCNO) company, is an award-winning developer of mobile-first technology for the modern mortgage lender. U.S. lenders depend on our namesake homeownership platform to unite the people, systems and stages of the mortgage process into a seamless, end-to-end solution that spans engagement, origination, closing and business intelligence. By helping lenders manage their teams and stay connected with borrowers and real estate professionals, we deliver a measurable return on investment in the form of reduced turn times, increased loan application submissions and more referral business. A four-time Inc. 5000 company, SimpleNexus has been recognized as one of the world’s Best Workplaces for Innovators. For more information, visit https://www.simplenexus.com or follow @SimpleNexus.

About AmeriCU

As a credit union, AmeriCU is a not-for-profit financial institution owned by our members. Serving nine counties in Central and Northern New York, AmeriCU provides you with all the products and services you need – often with low or no fees, and better rates. The organization has been serving the local community for over 70 years and, in that time, has grown to more than 160,000 members, 20 locations, and $2.4 billion in assets. AmeriCU is located in Central New York and is among the State’s largest, full-service financial cooperatives. For more information, visit https://www.americu.org/.

Media Contacts
Leslie Colley
DepthPR for SimpleNexus
+1 678.622.6229
leslie@depthpr.com

David Bolin
SimpleNexus
+1 414.688.6077
dbolin@simplenexus.com

Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

FAQ

What is the significance of SimpleNexus' partnership with AmeriCU?

The partnership aims to modernize the homebuying experience for over 150,000 AmeriCU members, leading to increased operational efficiency.

How will the Nexus technology benefit AmeriCU?

The Nexus technology will streamline workflows and improve member satisfaction through a mobile-first homebuying experience.

What are the key products being implemented by AmeriCU?

AmeriCU is implementing Nexus Engagement™, Nexus Origination™, and Nexus Closing™ to enhance its mortgage services.

How many members does AmeriCU serve?

AmeriCU serves over 150,000 members.

What is the total asset value of AmeriCU?

AmeriCU has a total asset value of $2.4 billion.