X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RANCHO CUCAMONGA, Calif. – CU West Mortgage, a mortgage lending company formed in December by the California Credit Union League and Orange County Teachers FCU, is celebrating several notable milestones. Earlier this month, the company was approved to make loans through the California Public Employee Retirement Systems (CalPERS), which provides retirement and health benefit services to more than 1.4 million California employees, retirees, and their families. That means that anyone participating in CalPERS can apply for a mortgage through CU West Mortgage. In addition, six more CUs signed contracts with CU West Mortgage, and Western Corporate FCU became a minority investor in CU West Mortgage. Lastly, the company sold its first loan on the secondary market to Fannie Mae, and was approved by correspondent lenders E-trade and Charlie Mac, a subsidiary of U.S. Central CU, to purchase CUWM’s jumbo mortgages of $333,700 and above. CU West Mortgage has applied to become a California Housing Finance Agency lender, and to the U.S. Department of Housing and Urban Development to become a Federal Housing Administration lender.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Dig Deeper

Credit Union Times

Join 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.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.