The $161 million ABCO Federal Credit Union in Willingboro, N.J., has signed an agreement with Symbionce Financial Solutions LLC to have the East Hanover, N.J., CUSO manage its mortgage origination and servicing, they said.
“Our mortgage and home equity services support our credit union partners’ need to stay on top of all aspects of their home loan programs without having to add to staff or incur expenses for specialized computer systems and expanded office space,” said Leo O’Donnell, vice president of mortgage services at Symbionce Financial Solutions.
ABCO FCU has about 32,000 members and a mortgage servicing portfolio of more than $30 million. Symbionce Financial Solutions said it now originates and services mortgages for more than 75 credit unions nationwide.
