Two CUSOs have formed a partnership to help make more mortgage financing available to credit union members.
The mortgage CUSO myCUmortgage, a leading credit union mortgage lender owned by the $2 billion Wright-Patt Credit Union, announced its deal with CU Structured Finance, a financial CUSO owned by TMG Financial Services. TMG Finanical Services is the owner and agent issuer of credit union credit cards from CUs around the country.
"The new client growth and increased loan volume we have experienced at myCUmortgage over the past year has created the need for additional funding," said Tim Mislansky, president of myCUmortgage. "We were challenged to find a cost-effective and operationally efficient method to obtain warehouse lines of credit. We're excited to be able to develop a collaborative solution within our industry and to work with CU Structured Finance."
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