Two mortgage CUSOs, both headquartered in the Western U.S., havepartnered to promote more credit union housing finance in thePacific Northwest.

CU Realty Services of Scottsdale, Ariz., helps credit unionsbecome their members' first option in real estate lending.Seattle-based CU Home Mortgage Solutions provides real estate andloan servicing options to 11 credit unions so far with more tocome, that firm said.

“We used a different real estate program before,” said DianeAnderson, vice president of business development at CUHMS. “But, itnever took off. We had great products, great prices and greatservice. We would process the pre-approval applications but thenthe members would work with an agent and, nine times out of 10, theagent would steer them toward their preferred lender.”

Designed to offer members the convenience of “one-stopshopping,” CU Realty's Web-based program offers credit unionmembers all the tools they need to buy or sell a home.Participating credit unions significantly increase their purchase mortgages as they become their members' first resourcein the buying or selling process, the CUSO said.

“Catching your members' attention at the beginning of a homesearch makes it more likely they will stay with you throughclosing,” said Mike Corn, CU Realty Service's CEO. “As an addedincentive, our approved agents offer discounts on broker/agentcommissions. That results in lower closing costs for members andadds to the appeal of financing through their credit union.”

The agreement marks CU Realty Service's first entry into thestate of Washington. Once the program is live in late August,credit unions working with CUHMS will be able to increase theirpurchase mortgage business by offering CU Realty Service's turnkeyreal estate program, the firm said.

“CU Realty is a good fit for our client credit unions, helpingtheir members find a quality Realtor, and research homes andneighborhoods online,” said Anderson. “By working with CU Realty'snetwork of agents, CUHMS can create 'stickiness' that will help usclose more of our purchase mortgage applications.”