SEATTLE — The CU Housing Roundtable has sent a proposal to the NCUA, asking to make $1 billion in central liquidity facility funds available to natural person credit unions to assist with problem real estate loans.
The group, led by executives from Tukwila, Wash.-based Prime Alliance Solutions, its majority owner the $8.5 billion Boeing Employees Credit Union and other players in the credit union mortgage lending scene, presented the Member Mortgage Relief Initiative to the NCUA Oct. 21.
MMRI aims to provide credit union members with short-term mortgage relief, while freeing up funds for participating credit unions, so they "can keep lending and helping more members."
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