Origence Announces New Preferred Auto Refinance Broker Program
Four new partners join program to assist credit unions in capturing more refinance loan opportunities
Irvine, California – June 30, 2020 – Origence, the leading lending software technology provider, has announced its new preferred vehicle refinance broker partner program to the credit union industry. Four of the country’s most recognized refinance brokers have joined the Origence preferred partner program, including RateGenius (Austin, TX), AUTOPAY (Denver, CO), MotoRefi (Arlington, VA), and Yield Solutions Group LLC (dba RefiJet) (Denver, CO).
The new program, through its CUDL network, connects the nation’s leading refinance brokers with credit unions looking to be better positioned to serve members in the growing auto refinance marketplace. The program also offers credit unions additional loan services, including direct financing for lease-end purchases, as well as private-party and dealership purchases.
The U.S. auto refinance market is estimated to be as much as $40 billion, according to TransUnion, providing credit unions with an ideal opportunity to better serve their members’ vehicle finance needs. This new program helps credit unions capture more refinance opportunities and remain competitive with other financial institutions that are active in the vehicle refinance marketplace.
“As one of the leaders in this quickly growing industry, AUTOPAY is excited to be working with Origence to provide credit unions with industry-best solutions for refinance,” said Jeff Hutcheson, co-CEO of AUTOPAY. We feel that AUTOPAY’s unique set of capabilities are a great compliment to the offerings that are available through the CUDL platform.”
“MotoRefi is proud to be recognized by CUDL as an industry leader in consumer auto refinance and proud to partner with top credit unions to deliver new happy members and high quality, compliant and consistent loan volumes,” noted Kevin Bennett, CEO at MotoRefi. “Our process is efficient and straightforward, and the CUDL platform is a key part of our seamless integration with lenders. We greatly appreciate the partnership with CUDL, making auto loan refinancing more accessible and empowering consumers to take control over their financial well-being.”
Using the CUDL network, these preferred brokers can help credit unions quickly establish a new lending channel that can help grow their portfolios based on predetermined loan criteria set by each individual credit union. The CUDL integration between the company’s preferred broker partners and credit unions ultimately provides a better experience for the credit union, broker and, most importantly, the new credit union member.
The nation’s largest credit union auto lending network, CUDL connects lenders to 15,000 auto dealers nationwide. Collectively, the 1,100 credit union partners on the CUDL platform have been the nation’s number one auto financing source since 2017.
“Yield Solutions Group is proud to partner with Origence to generate new, targeted leads for credit unions,” noted Reid Rubenstein, company co-founder and managing partner. “Combining Origence’s leading software with YSG/RefiJet’s marketing, application processing, and title perfection services makes it fast, simple and compliant to generate direct auto refinance loans that support profitable portfolio performance. The partnership is a win-win-win for all parties.”
“We are extremely pleased to be a preferred partner with Origence and the CUDL network,” said Christopher Speltz, RateGenius CEO. “Over our 20-year history within the industry, RateGenius has strived to provide consumers with what they desire; easier and faster financing solutions. Origence’s technology suite facilitates this. RateGenius looks forward to helping expand the CUDL network’s share of the growing auto refinance market.”
“We recognized the value and need for a preferred broker program that assists credit unions in capturing more of the growing auto refinance market, and we are excited to be partnering with the leading brokers in the country,” said Aleks Bogoeski, Origence’s vice president, strategic alliances. “As a result, we’ve partnered with a team of brokers that are able to bring these new loan opportunities to the market with credit unions and share their commitments to not only maintain, but also make new partnerships with credit unions through Origence’s CUDL network.”
Origence, a CU Direct brand, is a financial technology provider dedicated to creating new approaches to the loan origination experience. The company’s enterprise origination solution, the Origence platform, powers mortgage, consumer, indirect, and home equity lending for financial institutions. The platform includes marketing automation and POS (point-of-sale) capabilities to deliver greater sales opportunities. By bringing automation front and center to the digital lending process, Origence makes life easier for lenders and consumers alike. The company is headquartered in Irvine, California.