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ATLANTA and PINE BROOK, N.J. — For credit unions considering adding mortgage lending to their list of service offerings, asset size is not necessarily the deciding factor. Both million dollar and billion dollar CUs have found that partnering with a vendor is an effective way to both get a foot in the mortgage door as well as expand existing lending.

“Either small or large, I think a lot of credit unions have apprehension with mortgage lending,” said Michael McGrath, president of CU National Mortgage, a wholly-owned subsidiary of US Mortgage Corporation. “Their loan sizes may go from a typical car loan to some home equity lending, where the loan sizes are $10,000-$50,000. With mortgage lending you’re dealing with much bigger loan sizes, different regulations, different requirements and procedures. And first mortgage lending is fairly complicated.”

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