TREXLERTOWN, Pa. – APCI FCU and GMAC Mortgage Corp have reached an agreement to offer GMAC Mortgage residential first mortgage products and services to APCI members. Under the terms of the alliance, APCI will originate first mortgage loans for members and submit completed applications to GMAC Mortgage locally for loan processing and funding. APCI will have access to GMAC Mortgage’s entire menu of first mortgage products to offer to its more than 15,000 members. In addition to offering its full product line to APCI members, GMAC Mortgage has also agreed to not sell other products to APCI members, nor will the company sell members’ loans to other mortgage companies for the life of the mortgage. APCI FCU has $190 million in assets. Its field of membership includes employees and their families of Air Products and Chemicals. GMAC Mortgage is a subsidiary of GMAC Financial Services, the financing arm of General Motors.
An expert issues a warning, “Time is up – companies need to be proactively protecting their attack surface..."
The drop suggests the housing market is still struggling as buyers strain to find affordable options.
PSCU also announced that almost 50% of its employees completed training on the significance of the credit union movement.
Sponsored by Kaufman Hall
Build a better budget! Learn 6 best practices for leveraging the appropriate financial and operational data, processes and tools to improve planning, efficiency and accuracy to drive improved profitability.
Sponsored by Harland Clarke
Digital search is evolving. Explore 4 vital indicators your credit union needs to optimize to provide relevant information, and drive engagement during moments of opportunity with existing and potential members.
Credit Union Times
Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!
- Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
- Exclusive discounts on ALM and Credit Union Times events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.