INDIANAPOLIS – Irwin Mortgage Corp., formerly Inland Mortgage, has formed partnerships with two North Carolina credit unions – Members Credit Union, Hickory, and Mountain FCU, Waynesville – to provide home financing to the CUs’ respective members. As a result of the partnerships, Irwin Mortgage will put a trained Irwin mortgage professional in each credit union, equipped with a full range of first mortgage programs. Irwin will originate mortgages and service them with a non-solicitation guarantee while giving each credit union the option to own selected mortgages to keep in their portfolios. Members Credit Union has about $122 million in assets and more than 51,000 members. Mountain FCU has $47.5 million in assets and more than 15,000 members.
The equity distribution was the second since the Temporary Corporate Credit Union Stabilization Fund was merged with the SIF.
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.
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