Prime Targeting the Emerging Market

Prime Alliance Solutions, Inc., which serves over 600 credit unions nationwide and originated nearly $20 billion in loans last year, is implementing Dexma’s Emerging Market Toolkit, Dexma announced at the Mortgage Bankers Association's national technology conference.The toolkit translates mortgage documents into the borrower’s native language, enabling Prime Alliance credit unions to send their borrowers a translated initial loan approval letter listing the conditions required to close the loan. Spanish and its cultural variants will be available first, since Latinos are the largest minority group in the U.S., representing 13.5% of the population, the company reported. Prime Alliance members include several credit unions in states that have higher-than-average Latino populations, including California, Texas, Florida and Colorado.