Westbury, NY (May 2, 2024) |
Jovia Financial Credit Union, one of the country’s top 100 credit unions, has launched a new offering, Jovia Commercial Lending LLC, a Credit Union Service Organization (CUSO) to support credit unions and community banks seeking to manage and/or expand their commercial real estate lending services. Jovia Commercial Lending will support multiple back-office functions for credit unions and financial institutions from across the nation.
Building commercial lending operations have many complexities and take time and expertise to develop. Small banks, credit unions, commercial mortgage brokers and lenders need a dedicated back-office team to manage, underwrite, originate and service commercial loan products.
“Underwriting a commercial loan requires significant investment in staff, technology, due diligence, and adherence to the respective state and federal regulatory requirements. This is often a challenge or even an impossibility for some institutions,” said Casey Mauldin, Chief Revenue Officer, and Chief Lending Officer of Jovia Financial Credit Union. “Our experienced team removes the obstacles and burdens while taking on these tasks, allowing clients to grow their portfolios and reduce expenses. By leveraging our dedicated infrastructure, credit unions and financial institutions have the opportunity to expand or build their commercial lending portfolios, stay on-budget, and accelerate underwriting, and properly manage their portfolio.”