McLEAN, Va. (6/25/08)--A package of services to help credit unions manage their mortgage business will remain available through a renewed alliance agreement between the Credit Union National Association and Freddie Mac. “With the current economic climate, this renewed alliance ensures that credit unions will continue to have options to succeed in the mortgage lending market, including affordable lending solutions to meet the needs of low- to moderate-income borrowers,” said Wes Millar, CUNA Strategic Services senior vice president. The alliance provides:
* Expanding execution and mortgage product options such as cash sale advantages on mortgages available through Freddie Mac’s Single-Family Seller/Servicer Guide; * Customized learning opportunities with assistance and training on Freddie Mac Home Possible Mortgage suite, and other low-downpayment mortgages to help low- to moderate-income borrowers; and * Technological advantages including Freddie Mac’s Loan Prospector automated underwriting service and a Mortgagebot with Loan Prospector business-to-consumer website for online mortgage lending.
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