First Financial of Maryland Federal Credit Union is implementing CU Direct's Lending 360 account and loan origination system. It provides credit unions with a single platform that automates loan application processing activity across all consumer lending channels.

"Through our [request for proposal] process, we reviewed four major industry providers, with our primary objectives being to provide members with a more simplified, convenient, and streamlined lending experience,” said Dan Kriebel, chief lending officer of First Financial. “Other key factors considered in the RFP selection were workflow efficiency, compliance, cost, reporting capabilities, ease of installation/execution and cultural compatibility.”

The LOS is designed to give credit unions the ability to drive more loans and account openings faster and generate efficiency, while improving the member experience throughout the loan application and approval process.

"A great lending experience starts with ease of use. Lending 360 greatly simplifies the process for credit unions and their members," said Brit Barker, vice president of sales at CU Direct.  “We're excited to be working with First Financial of Maryland, helping them gain a competitive edge and grow their loan portfolios by leveraging our platform's capabilities."

First Financial has 63,724 members and $1.1 billion in assets. More than 135 credit unions have licensed the Lending 360 platform from CU Direct.

Corelogic estimates that residential and commercial losses from the recent catastrophic wildfires in California are between $15 billion to $19 billion. According to the analysis, losses from the Camp Fire, the most destructive wildfire in the state’s history, are estimated to be between $11 billion and $13 billion. In addition, losses from the Woolsey Fire in Southern California are estimated to be an additional $4 billion to $6 billion.

“These wildfires have been a personal and financial tragedy for many families,” said Tom Larsen, principal of industry solutions at Corelogic. “The proper estimation of the value of a home is critical because often in situations of wildfire, the home is completely lost. A deficient valuation can lead to a situation where homeowners have inadequate funding to replace their home.”

Fire is covered under a standard homeowners’ policy, so the majority of homeowners are likely to have some protection from the financial challenges surrounding recovery.

Two senior Black Knight executives with will be placed in leadership positions at D&B, once the planned acquisition of the company is completed by the end of the first quarter. William Foley II , executive chairman of the board at Black Knight, will serve in the same role for D&B. Anthony Jabbour will be CEO at D&B and remain in his current role as CEO at Black Knight.

[caption id="attachment_7892" align="alignleft" width="150"] Daffron to join Dun & Bradstreet when the transaction closes.[/caption]

Reporting to him is Stephen Daffron who will join Dun & Bradstreet as president from Motive Partners, a global private equity firm he co-founded in 2015 with a focus on financial-technology. He's slated to join D&B when the transaction closes by the end of the first quarter.

"I am extremely happy to have Steve join as President of Dun & Bradstreet, where he will leverage his vast experience in the data and analytics business to provide invaluable insight for our business and our valued customers," said Jabbour.

Earlier in November, Black Knight’s board approved a $375 million investment, for a stake of less than 20 percent in Dun & Bradstreet. The acquisition will be completed through Star Parent, an investment consortium led by CC Capital, Cannae Holdings and Thomas H. Lee Partners, Black Knight Inc., Motion Partners and others. Thomas H. Lee Partners has two representatives on Black Knight's board.

During more than two decades on Wall Street, Daffron served as global head of operations, technology and data at Morgan Stanley. He led an organization of 17,000 and managed the integration of the firm's acquisition of Smith Barney.

Following his time on Wall Street, Daffron served as president and chief executive officer of Interactive Data Corporation, a provider of financial data and analytics. He has also held senior leadership positions at Renaissance Technologies, Citigroup and Goldman Sachs.