Nexstar Financial, Bear Stearns CUFS launch mortgage program
ST. LOUIS - Nextstar Financial Corp., a provider of mortgage outsourcing solutions to banks, credit unions and other financials, together with Bear Stearns Credit Union Financial Services (CUFS), have developed a mortgage program - CUMACT Powered by Nexstar - for large credit unions that are involved with mortgage lending and want additional capability and capacity to capture more of their members' mortgage business. CUMAC Powered by Nexstar delivers fully integrated call center and Web capabilities. It also allows CUs to have the flexibility to customize product selection, pricing, underwriting, secondary marketing, and servicing. All lending services are provided in the CU's name. "CUFS and Nexstar share the belief that the portion of the mortgage market that credit unions currently possess is but a fraction of what they are positioned to capture given their established brands, community-integrated branches, and strong member relationships," said Bear Stearns CUFS Managing Director Wade Charles Barnett.