DALLAS – CU Members Mortgage, a provider of mortgage services to more than 700 credit unions, CUSOs and leagues around the country, was recognized by Fannie Mae with the Credit Union Service Organization of the Year award for excellence in mortgage lending.
CU Members Mortgage was presented its award earlier this month at the Prime Alliance Symposium held in Seattle.
In making the presentation, Fannie Mae Vice President for Marketing John Sayre enumerated the accomplishments of CU Members Mortgage that include developing a new loan program for credit-challenged members using the Fannie Mae Expanded Approval underwriting guidelines. CU Members Mortgage was also cited for creating partnerships with real estate developers to secure affordable properties for members and then renovating those properties to help members purchase the homes through special loan programs. As part of this initiative, CU Members Mortgage provides members with credit counseling.
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Fannie Mae also recognized CU Members Mortgage for originating $13 million per month in loans that help credit-challenged and low-income members.
In 2005, CU Members Mortgage increased by 22% the loans it processed for the CUs it serves.
CU Members Mortgage originates more than $4 billion in mortgages annually and is one of the largest servicers of mortgage loans in the U.S., with a portfolio exceeding $10 billion.
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