TUKWILLA, Wash. -- Prime Alliance Loan Servicing has been named Fannie Mae's preferred agent for private label subservicing of credit union mortgage loans.
The announcement was made during Prime Alliance's recently concluded Fifth Annual Symposium held in Indian Wells, Calif.
Exclusive to the credit union industry, the loan servicing option is aimed at providing for increased market share and greater profitability in mortgage operations while keeping mortgage servicing within the CU sphere.
Prime Alliance Loan Servicing is a joint venture of Prime Alliance Solutions, LLC, Cenlar, BECU, Orange County Teachers Federal Credit Union, and Patelco Credit Union. Through Prime Alliance, Cenlar provides private label subservicing solutions exclusively to credit unions and is an industry-leading provider of subservicing to credit unions.
David J. Miller Jr., president of Prime Alliance Loan Servicing, said in a released statement, "Having Fannie Mae name Prime Alliance Loan Servicing as their credit union preferred solution for private label subservicing is a mark of distinction further solidifying our alliance."