MCLEAN, VA (October 9, 2014) – Mortgage Harmony Corp., the innovative provider of Loan Retention Software (LRS™) and the HarmonyLoan™, today announced that NARFE Premier Federal Credit Union (NPFCU) is the first financial institution to license its Loan Retention Software (LRS™) for auto loans. Originally chartered in 1935, NPFCU serves more than 10,000 members nationwide and has assets of approximately $158 million. Headquartered in Alexandria, VA, NPFCU is a member-owned cooperative providing financial solutions to active and retired federal employees and their families, as well as anyone who lives, works, worships or attends school in King George, VA.
Mortgage Harmony's Loan Retention Software™ (LRS™) and the AutoHarmony™ loan with Rate Reset built in streamlines the refinance process in the car loan industry. Borrowers are able to reset their interest rate, extend their term and lower their monthly payment on a secure, customized website with just a "click" of a button and an e-Signature—with no out-of-pocket costs, and no administrative hassles.
“Last month we rolled out Mortgage Harmony’s LOANGen™ product to our members and the response exceeded our expectations.” said Jeff Parish, Vice President of Marketing and Membership Development for NPFCU. “The Loan Retention Software (LRS™) for autos is a complementary product to LOANGen™ that allows our members to easily refinance their auto loan with the click of a button.”
“Mortgage Harmony’s Loan Retention Software for autos allows us to create value for our members,” said Marty Wye, President/CEO of NPFCU. “Auto lending and auto loan retention is a very competitive space. This product allows us to retain our existing loans and attract new ones, and also lets our members reduce their monthly payments. This is a competitive advantage for NPFCU.”
“We are very excited that NPFCU is the first financial institution to offer our Loan Retention Software for auto loans,” said Keith Kelly, President of Mortgage Harmony. “This product allows members to better manage their finances, while also strengthening the relationship between the credit union and the member.”
To see this exciting new technology, please go to NARFE Premier’s website at www.narfepremierfcu.org and select SHIFT.SWITCH.SAVE!
About Mortgage Harmony Corp.
Named by American Banker’s Bank Technology News (BTN) "One of the Top Ten Technology Companies" to watch in 2013, Mortgage Harmony Corp. provides innovative Loan Retention Software (LRS™) to banks, credit unions and mortgage companies. The company’s HarmonyLoan™ is a borrower-initiated interest rate-resetting loan feature that provides an alternative to the traditional refinance for both mortgages and auto loans. For more information on Mortgage Harmony and the HarmonyLoan™, please visit www.mortgageharmony.com.
About NARFE Premier Federal Credit Union
NARFE Premier Federal Credit Union, headquartered in Alexandria, VA, is a member-owned cooperative, providing financial solutions to active and retired federal employees and their families. Originally chartered in 1935, NPFCU serves more than 10,000 members nationwide and has assets of approximately $158 million. To learn more about NARFE Premier Federal Credit Union, visit www.narfepremierfcu.org.