IRVINE, Calif.– Origence Lending Services, a division of Origence, is reporting it saw record results for 2022, capping an 83% increase over 2021 and a 266% increase in loans funded over 2020.
The company, which said it provides scalable outsourced solutions to credit unions, ended the year with 154 clients, up from 105 in 2020. In the same period, the team grew from 95 to 275 members with an ability to flex with client needs while operating at scale, it added.
“Helping credit unions succeed is why we created Origence Lending Services. We understand that it is about the member, and I am so pleased to say that we helped more than 475,000 credit union members with financing in 2022,” said Brian Hamilton, president of Origence Lending Services. “As the lending environment changes, we have added turnkey outsourcing capabilities—and partnerships—to help credit unions continue to thrive in 2023.”
In 2022, Origence Lending Services noted it launched HELOC and direct consumer loan support, as well as underwriting in eight different loan origination systems.
Numerous Partnerships
Additionally, the company said it strengthened its partnerships with several auto refinance brokers, Credit Union Leasing of America (CULA), LoanStar Technologies retail and home improvement point-of-sale financing, and Lenders Protection by OpenLending, to allow credit unions to lend more safely on near-prime and non-prime loans.
“With customizable workforce augmentation solutions that can be implemented quickly and cost-effectively, Origence Lending Services is uniquely positioned to help credit unions navigate changes and product exploration,” the company said.
A ‘Virtual Workforce’
Added Hamilton, “We can help credit unions solve the challenges of operating in uncertain economic environments. For many of our clients, we serve as a virtual workforce, perfectly equipped to manage the changes in skilled staffing needed to respond to shifting market conditions. Now is the best time for credit unions to explore new products and augmented staffing as we build out flexible, scalable models with less downside risk associated with employee overhead.”
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