Alabama Credit Union Joins the 7 Mortgage Network

Posted on June 12, 2023 by BigWheel

Alabama Credit Union has executed a service agreement with 7 Mortgage to originate, process, underwrite and close secondary market mortgage loans. Of the recent partnership, Vice President of Business Development, A.J. Holst said, “This opportunity is extremely exciting for our organization as Alabama Credit Union was seeking a solution to offer mortgages to their members outside of their footprint. Our ability to originate in AL, FL, GA, KY, MS, TN and VA was a good fit with the added benefit of retained Fannie Mae servicing to create a wall of credit union influence around their members. We appreciate the trust of the ACU team, President and CEO Steve Swofford, CLO Benson Bolling, Mortgage Lending Manager Sandra Jones and Senior Mortgage Officer Mike Ivey, to allow us to serve their credit union and members.” Alabama Credit Union has been a partner of 7 Family of CUSOs since 2020 through 7 Insurance. Special thanks to Alabama CU Services leadership Tommy Cobb and Joe Hardy for your continued business and support.

About 7 Mortgage: a mortgage CUSO subsidiary of 7, LLC and $3.2B Oak Ridge-based ORNL Federal Credit Union. Founded in 2003, 7 Mortgage currently serves 36 credit unions with business fulfillment to a full turn-key remote mortgage department solution.

About Alabama Credit Union: a $1.7B Tuscaloosa-based credit union serving the University of Alabama and almost 140,000 members since 1956.

New Location and New Faces for 7 Title

Posted on April 12, 2023 by BigWheel

7 Title has announced it will open its third location on Monday, April 17, 2023 in the Bearden area. The Knoxville-based title company, which specializes in the settlement of residential and commercial transactions, will be located at 5507 Kingston Pike.

“7 Title is one of the largest and most reasonably-priced title companies in East Tennessee,” said Chris Outland, President of 7 Title. “Our main office is at Northshore Town Center and in 2021, we opened a location in Morristown. This new office in the Bearden community will offer even more convenience to our partners.”

7 Title also announced two new hires to its staff. Whitney Lippert will serve as the 7 Title Office Manager at the Bearden location, while Anna Farley will join the company as the Business Development Executive. Lippert has over 12 years of title experience serving in various roles, with the last few years spent as a senior closer for a local title company. During her time in the industry, she developed a great reputation of giving exceptional service while cultivating many relationships in the local real estate market. A veteran of the United States Army National Guard, Lippert obtained both her Bachelor of Business Administration and her Master of Business Administration degrees from King University in Knoxville with a focus on paralegal studies, business management, and human resource management.

Farley has over 20 years’ of experience in the title and real estate sectors. Because of her extensive background in the industry, she is in a unique position to share new ideas and programs from her previous successes. Farley is new to the East Tennessee area, moving from California with her family in late 2022. She studied at Fresno City College and previously held licenses in real estate and title marketing in California.

7 Title has served the Knoxville and surrounding area for over 20 years with a focus on low fees, exceptional service, and being mobile for the convenience of its clients. For more information, please visit 7.coop/title.

Media Contact:

Chris Outland

coutland@7.coop

t: 865.560.7478

New President of 7 Mortgage Announced

Posted on June 21, 2022June 21, 2022 by BigWheel

Knoxville, TN. – 7, LLC has appointed Travis Morrow as President of 7 Mortgage, a jointly owned credit union service organization of ORNL Federal Credit Union (ORNL FCU) and Consumer Credit Union (CCU). Morrow replaces Wendy Robinson, who retired earlier this year. Morrow assumed his role effective May 29th, 2022.

Morrow began his career with ORNL FCU in 2012 when he joined the Mortgage Lending Department as a Mortgage Loan Originator. In 2017, he transitioned to the role of Mortgage Sales Manager at ORNL FCU and oversaw the production staff for the Mortgage Department. In 2019, Morrow was promoted to AVP Mortgage Lending, and later assumed the position of VP Mortgage Lending in 2020. In his role as VP, Morrow was responsible for all activities related to mortgage lending for ORNL FCU including loan production, residential and construction loan portfolio management, and secondary market pricing and delivery.

“Travis has worked in the financial and mortgage industry for over 10 years and has the experience and knowledge needed to successfully transition into his new role as President of 7 Mortgage,” said Chris Boler, President & CEO of 7, LLC. “He is familiar with our culture and understands our mission to empower credit unions of all sizes to offer much needed mortgage solutions to their members.”

As President of 7 Mortgage, Morrow will be responsible for building upon the legacy the mortgage CUSO has built by growing and evolving the business to meet the changing needs of credit union clients throughout the Southeast. From origination through servicing, 7 Mortgage has tailored solutions to help credit unions lower costs, increase service levels, improve compliance, and maximize returns in their mortgage lending programs.

Morrow is a graduate of the University of Tennessee. Since 2019, he has served on the board of directors for the Home Builders Association of Greater Knoxville and participated in multiple advisory committees including Parade of Homes, Foundation House, and The Home Show. Morrow has also served on the board of managers for 7 Title since 2020.

Morrow resides in Powell, TN with his wife, Amy, and two children, Maria and Davis. He is an avid Tennessee football fan, and enjoys golfing and spending time with his family on the lake.

About 7, LLC and 7 Mortgage

7, LLC is a credit union service organization (CUSO) established in 2003 by ORNL Federal Credit Union with the fundamental purpose of developing an outstanding platform of mortgage services for the credit union industry. CUSOs are subsidiaries of their corresponding credit union(s) and strive to build collaborative partnerships with like-minded credit unions.

7 Mortgage is a CUSO that brings together a suite of mortgage lending services that allows cost-effective origination of residential real estate loans available to every credit union regardless of size and experience in mortgage lending. Sister companies, 7 Title and 7 Insurance, are jointly owned ventures with neighboring Y-12 FCU and offer clients credit union level financial products and member service.

7 Mortgage Welcomes New Investor

Posted on February 4, 2022February 4, 2022 by BigWheel

Consumer Credit Union (CCU) has finalized an investment in CU Community, LLC, dba 7 Mortgage, a credit union service organization (CUSO) based in Knoxville, TN. The investment from the credit union will make the organization a minority owner in 7 Mortgage. 7, LLC, the wholly owned holding company of ORNL Federal Credit Union, will remain majority owner.CCU, based in Greeneville, TN, has been a client of 7 Mortgage since 2007, joining as one of the first partner credit unions of the CUSO. Established in 2003, 7 Mortgage is licensed in seven states and provides mortgage services to its partner credit unions, with a goal of helping credit unions like CCU become full service providers to their members.

“Consumer Credit Union has been one of the longest tenured clients of 7 Mortgage and we are thrilled to have them now join us as owners to further the mission of helping credit unions deliver much needed mortgage services to credit union members throughout the Southeast,” said Wendy Robinson, President of 7 Mortgage.

Stephen Cutshall, SVP & Chief Mortgage Officer of CCU, will join the Board of Managers of 7 Mortgage. “7 Mortgage provides services that allow Consumer Credit Union to become more efficient in its lending process through scale. In a business where relationships matter, we are pleased in partnering with 7 Mortgage. As owners, we look forward to the continued success together with them,” said Cutshall.

About Consumer Credit Union

Consumer Credit Union is a non-profit, cooperative savings and lending organization chartered by the Tennessee Secretary of State in February 1953. With over $555 Million in assets, Consumer Credit Union serves 36,000 members who live, worship, volunteer, attend school in, or work for a business located in Anderson, Blount, Claiborne, Cocke, Greene, Hancock, Hamblen, Jefferson, Knox, Loudon, Sullivan, Union, and Johnson City, Tennessee. www.consumercreditunion.com

About CU Community, LLC dba 7 Mortgage

CU Community, LLC dba 7 Mortgage is a credit union service organization established in 2003 by ORNL Federal Credit Union with the fundamental purpose of developing an outstanding platform of mortgage services for the credit union industry. 7 Mortgage is licensed in Alabama, Georgia, Kentucky, Mississippi, Tennessee, Virginia, and Florida. Rooted in the seven cooperative principles, 7 Mortgage is made of experienced credit union people with the passion, insight, and skills to help credit unions and their members thrive. www.7.coop

7 Mortgage Welcomes New Partners

Posted on November 19, 2021November 19, 2021 by T Wright

The 3rd quarter of 2021 was very busy as 7 Mortgage welcomed three new Tennessee credit union clients. Southern Credit Union (Chattanooga), Knox County Employees Credit Union (Knoxville), and Healthcare Services Federal Credit Union (Chattanooga) all signed on to provide core financial/mortgage services to their membership. In doing so, these credit unions will have the ability to grow their balance sheets and drive much needed net income; while fostering deeper relationships resulting in greater share-of-wallet.

“We are thrilled to welcome these three new credit unions into our family. We exist to help members realize the dream of homeownership while helping smaller credit unions compete, thrive, and survive. By continuing to sign new partners, we are fulfilling that mission everyday.” said Wendy Robinson, President of 7 Mortgage.

Partner credit unions of 7 Mortgage have access to an a la carte menu of products and services which are tailored to the needs of the credit union. In addition to a robust state of the art and white labeled point-of-sale online mortgage application, 7 Mortgage provides contract origination, processing, underwriting, compliance, and system support for either portfolio or secondary market lending.

About 7 Mortgage:

7 Mortgage is a Credit Union Service Organization (CUSO) based in Knoxville, TN and licensed in seven states: Tennessee, Mississippi, Alabama, Georgia, Kentucky, Virginia, and Florida. 7 Mortgage is rooted in the seven principles of the cooperative movement and run by credit union people with a passion to help credit union people.

Contact:

A.J. Holst

Business Development Manager

aholst@7.coop

865.560.7471

www.7.coop

7 Title President Wins Hugh Watson Award

Posted on July 6, 2021July 1, 2021 by BigWheel

The Southeast Regional Credit Union Schools (SRCUS) organization recently announced that Chris Outland has been awarded the 2021 Hugh Watson award at this year’s session of the Southeast CUNA Management School. Selected by vote of his classmates, Outland was chosen to receive this award based on his exceptional contributions to the class as a whole over the three years of SRCUS and his outstanding leadership skills.

Chris Outland currently serves as the President of 7 Title. 7 Title is a title company and Credit Union Services Organization (CUSO) jointly owned by ORNL Federal Credit Union & Y12 Federal Credit Union. Chris began his credit union career in 2013 as the Mortgage Processing Supervisor for 7 Mortgage, a wholly owned CUSO of ORNL FCU. He took on the role of Title Manager of 7 Title in 2014, then transitioned into his current role of President in 2016. Prior to 2013 Chris spent over 20 years in the consumer finance industry, mostly in the role of Branch Manager where he gained valuable experience in all facets of managing a team and running a business. Chris was born, raised and continues to live in Knoxville Tennessee, less than an hour drive from the Great Smoky Mountains. He enjoys spending time with his wife Ginger and his three children Jacob, Elijah and Ella.

“SRCUS is a unique and dynamic opportunity to improve your skills as a leader and learn more about the credit union you work for, as well as the credit union industry in general,” noted Outland. “The curriculum is great, but what makes this school unique is the opportunity to meet and bond with other impressive credit union professionals. The friendships made turn into meaningful, lasting relationships. Additionally,SRCUS gives you many opportunities to put yourself into your “stretch zone” where personal growth happens. I went into it telling myself “I’m just going to press forward and take advantage of everything this experience has to offer” and I was paid back tenfold,” explained Outland.

Seven years ago, SRCUS instituted the “Hugh Watson Award” to recognize an outstanding third year student and to honor the retirement of Hugh Watson from SRCUS. Watson joined the SRCUS faculty in 1971 and during his tenure, he taught in all 3 years, served as academic coordinator and facilitated the 3rd year simulation for 43 years. Upon his retirement from SRCUS, the Hugh Watson Award was instituted to honor the 3rd year student whose service to SRCUS has been closest to that exemplified by Dr. Hugh Watson. Since 1970, the SRCUS Southeast CUNA Management School has equipped graduates with the skills and knowledge to meet the leadership challenges that arise in the credit union industry. The curriculum develops students’ operational, managerial and leadership abilities as they receive advanced academic instruction on a variety of topics including management, leadership, and financial analysis. Students also apply the knowledge gained from the on-site sessions to projects that require strategic analysis of their credit unions and research of relevant issues facing the credit union industry. Graduation from the Southeast CUNA Management School is recognized throughout the credit union industry as a prestigious mark of achievement. Upon successful completion of the program, students received a graduation diploma issued in conjunction with the University of Georgia Center for Continuing Education. For more information on the Southeast CUNA Management School, visit www.srcus.org/management.

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About SRCUS: Southeast Regional Credit Union Schools (SRCUS) is a collaboration of seven southeastern credit union leagues, including the Carolinas Credit Union League, Kentucky Credit Union League, League of Southeastern Credit Unions & Affiliates, Louisiana Credit Union League, Mississippi Credit Union Association, Tennessee Credit Union League, and Virginia Credit Union League. Through collaboration with CUNA and Affiliates, the first SRCUS Management School was established in 1970. In addition to the management school, SRCUS also hosts an annual Director’s Conference, which provides a full range of informative educational sessions about critical issues important to today’s ever-changing financial industry for credit union directors and committee members. For more information, visit www.srcus.org.

7 Title Opening 2nd Location in Morristown

Posted on July 1, 2021July 1, 2021 by BigWheel

Knoxville, Tenn. — 7 Title has announced it will be opening a second location in Morristown, TN. 7 Title specializes in the settlement of residential and commercial transactions. Founded in 2003 and based in Knoxville, 7 Title has become one of the largest, most convenient, and reasonably-priced title companies in East Tennessee.

“Morristown is an attractive market due to its growth in jobs and housing,” said Chris Boler, President of 7, LLC. “Having grown up in Morristown, I am excited to bring our innovative and convenient approach to the Lakeway real estate community.”

The new Morristown branch of 7 Title will be located at 1730 West Andrew Johnson Highway. Construction site work is expected to begin in July and be completed in October. The location will be staffed by two industry veterans from Morristown, Tina Clevenger and Susan Carson.

“We’ve always done business in the Lakeway area and we are looking forward to having a physical presence to better serve our clients,” said Chris Outland, President of 7 Title. “Tina and Susan have a wealth of knowledge and a passion for serving clients in the Lakeway area. We couldn’t be more proud to have them on our team”.

7 Mortgage Implements OpenClose’s LOS & POS to Support Its Network of Credit Union Members

Posted on August 12, 2020August 19, 2020 by BigWheel

KNOXVILLE, Tenn., Aug. 12, 2020 (SEND2PRESS NEWSWIRE) — 7 Mortgage, a credit union service organization (CUSO), announced that it went live with OpenClose’s end-to-end loan origination system (LOS) allowing its partner credit unions to leverage the mortgage industry’s leading technology. The OpenClose solution allows 7’s CUSO members to efficiently and effectively complete mortgage loans – from start to finish – via a centralized platform rated #1 by multiple independent studies.

A subsidiary of ORNL Federal Credit Union (ORNL FCU), 7 Mortgage successfully launched OpenClose’s LenderAssist™ LOS and ConsumerAssist™ POS in July, delivering an enriched digital mortgage experience for both partner credit unions and the members they serve. 7 Mortgage now offers an array of new features, further distinguishing itself as a premier CUSO for residential mortgage lending.

“I am excited to convert our clients to OpenClose because it offers versatility, a fresh, modern look and sports a user-friendly format,” said Chris Boler, 7 president and CEO. “7 is dedicated to making credit unions stronger through collaboration. By offering a top-tier product like OpenClose to our partners, we are helping our members and our industry thrive.”

7’s credit union members have access to OpenClose’s award-winning platform, which includes a robust digital mortgage point-of-sale solution; a comprehensive, 100 percent browser-based LOS; a flexible, natively built product and pricing engine (PPE); business intelligence and analytics software (BI); mobile device functionality extension; and a RESTful API suite for simple, cost effective integrations.

OpenClose offers a uniquely consolidated digital POS and LOS, along with additional capabilities – all via a single-source software provider, driving real-time member engagement and collaboration throughout the mortgage loan process.

“We are pleased to welcome 7 Mortgage as a new OpenClose partner and are confident its members will gain many benefits from our platform,” said Vince Furey, CRO at OpenClose. “Our LenderAssist LOS brings new efficiencies to the table, which transforms mortgage lending for credit unions into an easier, streamlined, member centric process.”

Using the new solution, 7 and its members are expected to benefit from OpenClose’s #1 rated customer service, better connectivity, reduced operating costs, quicker turn times and expanded options by which to conduct business.

About 7:

Rooted in the seven principles of the credit union movement, 7 is a wholly owned credit union service organization (CUSO) of ORNL Federal Credit Union (FCU) in Oak Ridge, TN. 7 Mortgage, 7 Title, and 7 Insurance are included under the CUSO’s umbrella. 7 Mortgage has 26 credit union partners and is licensed in 6 states. The mortgage company specializes in offering tailored mortgage solutions to credit unions throughout the Southeast. For more information, visit 7.coop or call (865) 564-7465.

About ORNL Federal Credit Union:

Chartered in 1948, ORNL FCU is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. ORNL FCU represents over 175,000 members and $2.5 billion in assets and serves members and businesses in 19 counties of East Tennessee. For more information, visit ornlfcu.com or call (865) 688-9555.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS), POS digital mortgage and fintech provider that cost effectively delivers its digital platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up. The company offers a RESTful API suite that standardizes system-to-system integrations, making them easier to develop, quicker to implement and more cost effective. OpenClose provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.

Media Contacts:

Chris Boler
7, President/CEO
865-560-7499
cboler@7.coop

Joe Bowerbank
Profundity Communications, Inc. for OpenClose
949-378-9685
jbowerbank@profunditymarketing.com

Social Media:
@OpenClose_LOS @7Mortgage #CreditUnionsLOS #CreditUnionsLoanOriginationSoftware #CreditUnionsMortgageAutomation #Mortgage #TitleCompany #Insurance #CreditUnions #CUDifference #RealEstate #EastTennessee #Knoxville #KnoxRocks #KnoxvilleTN #KnoxvilleRealEstate #KnoxvilleRealtor #BuyingAHome #FirstTimeHomebuyer #HomeClosing

Business Development Executive Joins 7, LLC

Posted on December 19, 2019December 19, 2019 by BigWheel

FOR IMMEDIATE RELEASE

7, LLC has announced A.J. Holst has joined the organization as its Business Development Executive. 7 is a wholly owned credit union service organization (CUSO) of ORNL Federal Credit Union (ORNL FCU) in Oak Ridge, Tenn. Holst assumed his role effective December 11, 2019.

As part of the business development team at 7, Holst will be responsible for developing partnerships with other credit unions to enhance available member services through multiple channel delivery. His role will also include increasing brand awareness and marketing efforts of 7’s business lines, including 7 Mortgage, 7 Insurance, and 7 Title. With over 30 years in the financial industry, Holst brings extensive knowledge and experience to the organization. He most recently held the role of Area Account Manager for CU Direct, one of the nation’s largest CUSOs. In his role, he was responsible for building relationships with dealerships and credit unions throughout the East Tennessee and Kentucky region, including ORNL FCU. “A.J. has a proven track record of building and enhancing relationships between organizations,” said Chris Boler, President & CEO of 7. “He understands the importance of credit union collaboration, our commitment to offering top tier products and services, and our promise to serve our members and our partner credit unions with unparalleled support.”

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CUSOs are subsidiaries of their corresponding credit union(s) and strive to build collaborative partnerships with like-minded credit unions. 7 Mortgage is a CUSO that brings together a suite of mortgage lending services that allows cost-effective origination of residential real estate loans available to every credit union regardless of size and experience in mortgage lending. ORNL FCU is one of 28 partner credit unions that use the services of 7. Sister companies, 7 Title and 7 Insurance, are jointly owned ventures with neighboring Y-12 FCU and offer clients credit union level financial products and member service.

ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $2.25 billion and membership has grown to over 172,000. Open to businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in multiple branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier, and Union counties.

Who picks the Title Company?

Posted on March 26, 2019 by Chris Boler

I was at a networking event recently and during the break, after I spoke about our title company, someone asked me “who picks the title company?” The answer is the consumer has the right to choose the title company but in most cases they defer to either the real estate professional or the mortgage professional with whom they have been working. Your average person only needs a title company once every 5-10 years so it’s rare to have an established relationship already built. This is why the Real Estate Agent or Mortgage Loan Officer is often looked upon to guide consumers where to go for their title needs.

As consumers we are trained to comparison shop for most things in our life. Before we purchase a flat screen TV at Target we are on our phones seeing what it costs at Wal-Mart. This mindset is even more prevalent when entering into the process of obtaining a mortgage loan. Shopping interest rates and mortgage closing costs are engrained in our minds because it’s such an important decision; however when it comes to title services most people don’t think to comparison shop.

At 7 Title we take a lot of pride in saying we are one of, if not the most reasonably priced title companies in the area. We don’t issue this statement lightly and without being informed. On an annual basis we do a pricing review of our biggest competitors in the market. All title companies have the same basic suite of services, but the charge for those services can vary quite a bit from company to company. From that review we adjust our fees accordingly with an eye on making sure we bring our clients the most value.

If you are a real estate or mortgage professional and you are already referring business to 7 Title, Thank you!! We appreciate the trust you have placed in us to bring value to your clients.

If you are a real estate or mortgage professional and you aren’t referring business to 7 Title, reach out to us! We have an approach to doing business that we are proud of and would like to share it with you.

If you are a consumer in the process of buying, selling or refinancing a home or you are in need of some real estate title advice, reach out to us at 7 Title. You can do so with the peace of mind knowing that whatever the cost of the service you need, we have made sure that you are paying a fair price.