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Washington
Fannie Mae to provide cost benefits to CUNA members
WASHINGTON (10/18/10)--Credit Union National Association (CUNA) member credit unions that are active in the secondary mortgage market will now be eligible for “significant cost benefits and price breaks” via Fannie Mae, CUNA announced on Thursday. CUNA, CUNA Strategic Services (CSS) and Fannie Mae this week completed work on an affinity program that will give CUNA member credit unions that service or sell their mortgage loans access to innovative mortgage loan products and features and special member pricing in the secondary market for whole loan sales to Fannie Mae. Member credit unions will also be offered discounted licensing and loan submission fees for Fannie Mae’s Desktop Underwriter® software, discounts on training through Fannie Mae’s Housing Finance Institute™, and access to newsletters, announcements and webinars. The agreement, which Cheney said would provide a “terrific, cost-saving opportunity” to CUNA member credit unions that use the secondary market. For credit unions that are not approved Fannie Mae seller/servicers, the “Path to Approval Toolkit” is available to help determine if you qualify to sell loans directly to Fannie Mae.
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