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Quicken Loans offers mortgage services for CUs small banks
LIVONIA, Mich. (5/19/10)--Quicken Loans has introduced Quicken Loans Mortgage Services, a division that serves the home financing needs of credit unions and community banks nationwide. Because of new rules determining who can originate mortgages, financial institutions may want to offer home loans, but they may not be large enough to justify hiring mortgage consultants and underwriters, Quicken said. Through Quicken Loans Mortgage Services, partner financial institutions can meet with existing clients, investigate their current situation and goals, and begin the mortgage application. Credit unions and banks remain the point-of-contact for the client, while Quicken manages the work to complete the loan. The clients then sign closing documents at their credit union or bank. Credit unions can offer Fannie Mae, Freddie Mac, Federal Housing Administration and Fannie Mae HomePath mortgages through Quicken Loans. Quicken Loans is an online and retail mortgage lender.


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