The MemberClose platform offers choices that you won’t find anywhere else. MemberClose provides you access to best in class companies offering appraisals, credit reporting, flood insurance, title, document preparation, and closing services. The unique aspect of this service is that the credit union chooses the vendor that it considers most suitable from a list of top ranked providers.
Easy access to all 3 major Credit repositories is provided.
Life of Loan certificates and re-issues are available.
Automated Valuation Model (AVM)
MemberClose provides multiple vendors to offer maximum coverage.
Hybrid of Gap Valuation
MemberClose provides a “drive-by” like valuation product that provides significant data on the property at a very competitive price point and fast turn time.
Property Condition Report (PCR)
It is highly recommended that a PCR is used in conjunction with an AVM to validate that the subject property is in at least “average physical condition”.
MemberClose has multiple Appraisal Management Companies (AMC) that provide access to any type of appraisal on any property anywhere in the country.
With the MemberClose EquiPro Lien product, the credit union is able to instantly secure its lien position in the property after following a few simple parameters.
Legal & Vesting Report
This report provides a summary of the Owners of Record, Tax Status and Legal Description relating to the subject property.
MemberClose allows the credit union easy access to full Title insurance and settlement services nationwide.
This report provides all of the data included in the Legal & Vesting report along with a summary of liens related to the current property owner.
MemberClose provides easy access to both Early Disclosure and full document sets for all of the credit union’s loan programs.
When it is not practical or convenient for the member to come to the credit union to close their loan, MemberClose can help. Notary and full attorney closings are available.
The Recording service can be used in conjunction with the closing service or independent of it. Where available, e-Recording is also provided.
This service is available on an ad hoc basis. The credit union is able to select part or all of its portfolio for review. The report that is returned to the credit union will show change of circumstance regarding the borrower(s) Credit, Property Value and/or outstanding property liens.