DALLAS, TX (August 5, 2013) -- With the challenges in today’s lending environment, credit unions are continuing to choose CU Members Mortgage to assist them. CU Members Mortgage recently signed 19 more credit unions during the 2013 second quarter to leverage its seamless mortgage lending services for compliance expertise, enhanced processing efficiencies, and additional fee income. Scenic Falls Federal Credit Union of Idaho Falls, ID, and Members 1st Credit Union in Redding, CA, are just two of those who chose CU Members Mortgage as a partner.
“Scenic Falls Federal Credit Union selected CU Members Mortgage because they cater directly to credit unions and we were looking for the flexibility of being able to offer mortgages to our members without keeping them on our books,” said Mary Taylor, Vice-President of Scenic Falls Federal Credit Union in Idaho Falls, ID; 8,527 members with $62 million in assets. “CU Members Mortgage provides an array of mortgages to meet the needs of our members which is very important to us. The friendly staff was a plus for us too.”
“We chose CU Members Mortgage because we received good feedback from a number of credit unions,” explained Ford Michael, Vice-President of Lending at Members 1st Credit Union in Redding, CA; 16,948 members with $105 million in assets. “We do not have the expertise to handle these types of loans, but we want to offer this type of service to our members. We have done simple refinances on first mortgages, but this will allow us to offer purchase money loans to our members.”
Because of this growth, CU Members Mortgage has added experienced credit union professionals to its growing staff to support its new and established clients with their thriving mortgage lending services. Last quarter, the mortgage provider restructured parts of its organization to better meet the growing loan operations demand from credit unions nationwide and these changes continue as they align their sales team to best satisfy their needs.
“More and more credit unions today are choosing a partner to help them manage their mortgage lending program,” states Linda Clampitt, Senior Vice-President of CU Members Mortgage. “The economy is becoming stronger and mortgage lending is a primary contributing factor for a full recovery. That said, today’s housing market is still challenging with new regulatory and compliance changes happening daily. CU Members Mortgage is here to help credit unions do their part in contributing to these lending demands.”
About CU Members Mortgage
Founded in 1982 as a division of Colonial Savings, Dallas-based CU Members Mortgage provides comprehensive mortgage services to more than 1,000 credit unions, CUSOs, and leagues nationwide. CU Members Mortgage originates more than $2 billion in FHA, VA, and conventional loans each year. With a portfolio of $20 billion, it is one of the largest servicers of mortgage loans in the United States. Advanced technology, including a dedicated website with an online mortgage application that delivers confirmation in minutes, makes CU Members Mortgage one of the industry’s leading resources for mortgage services. The company is privately held and has branches located nationwide. For more information, visit: www.cumembers.com.