VyStar Credit Union and TransUnion are collaborating to promote more financial inclusion in the mortgage sector. Through its latest product, Dream2Own, VyStar will leverage data from financial fitness app FinLocker and TransUnion, to better serve its members well before and during the mortgage process.
TransUnion and FinLocker offer end-to-end solutions for mortgage originators and providers that improve customer acquisition and retention while delivering financial well-being tools to existing borrowers and prospects.
In addition to the advantages offered to originators and providers, these TransUnion and FinLocker solutions provide tools that directly aid potential homeowners, many of whom have demonstrated a need to learn more about the buying process.
Potential homebuyers, many from otherwise underserved communities, will benefit from tools offering mortgage and homebuying educational resources, credit monitoring, debt management and budgeting and planning information that can help low- to moderate-income consumers realize their dream of homeownership.
“By consolidating their financial information in one place, users can easily track their equity, liabilities, and spending and always know where they stand on their goal of mortgage readiness,” says Henry Cason, CEO, FinLocker.
Adds Joe Mellman, senior vice president and mortgage business leader at TransUnion: “These digital solutions will help improve the VyStar member experience, reduce the cost of loan production and drive efficiencies in mortgage servicing while promoting more opportunities for VyStar members to secure a mortgage.”
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