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CU Members Mortgage Its business as usual
FORT WORTH, Texas (9/11/08)--Despite problems in the mortgage industry, including a government takeover of Fannie Mae and Freddie Mac, CU Members Mortgage reports that for its 900 credit unions partners, it’s business as usual. “Our credit union partners can have confidence that they are working with a stable and financially strong lending partner, and that is vital in these changing times,” said Linda Clampitt, CU Members Mortgage senior vice president. CU Members Mortgage has reduced its exposure to credit risk by implementing fraud prevention techniques, such as requiring more 4506 forms and using third-party fraud detection. Due to its underwriting and processing procedures, it has “very few repurchase demands from investors,” the company said. “By using prudent underwriting standards, we’re in a position to withstand most any shock that comes our way,” she added.


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