Xtend Extends Service to 3,000 Mortgages
Xtend Inc. said it has reached the 3,000 mark in the number of mortgage loans supported by the CUSO as it reaches the end of its third year offering the service.
The Grand Rapids, Mich., CUSO provides back-office mortgage support for 23 credit unions through its Lender*RE division, a service it began in January 2008. It provides the service through a contract with CU*Answers Inc., its core processing sister CUSO.
Xtend President Scott Collins said his company has seen mortgage servicing revenue increase by more than 15% each year and that it now handles loans made through Fannie Mae, Freddie Mac and FHLB.
Xtend is owned by 52 credit unions and said it now provides managerial, operational, marketing, technical and consulting services to more than 120 credit unions.