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BASKING RIDGE, N.J. — Credit union clients of the Credit Union Mortgage Alliance Network (CUMAnet) who have been limited in the mortgage loans they can make because of liquidity concerns, now have a new program to choose from that creates a unique secondary market within the CUSO’s CU client community and keeps the mortgage loan money in a participatory, shared format among CUMAnet CU clients.

CUMAnet, a multi-owned real estate CUSO owned by three New Jersey-based CUs–Affinity FCU, Basking Ridge; Greater Alliance FCU (formerly Central Bergen FCU), Hackensack; and Proponent FCU (formerly HLR FCU), Nutley–and which also has 38 additional credit union clients nationwide, launched its new Multi-Partner Loan Participation Program on Oct. 10.

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