CUNA forms alliance with Freddie MacMortgagePress.comcredit unions, credit markets, mortgage products, outreach initiatives
A critical package of services to help credit unions manage
their mortgage business in today's distressed credit markets will
remain available through the renewed alliance agreement between the
Credit Union National Association
(CUNA) and Freddie
Mac.
The alliance provides participating credit unions with a
comprehensive set of technological services, mortgage products and
correspondent lending, such as Freddie Mac's borrower outreach
initiatives.
"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, senior vice president of CUNA strategic
services.
"Extending our alliance with CUNA means participating credit
unions can access a full range of correspondent mortgage lending
services and competitive secondary market strategies without having
to add staff or re-tool their systems," said Iliana Ghanem, vice
president for community lending at Freddie Mac.
The Freddie Mac/CUNA alliance provides:
•Expanding execution and mortgage product
options—cash sale advantages on a wide variety of mortgages
available through Freddie Mac's Single-Family Seller/Servicer
Guide;
•Customized learning opportunities—assistance and
training on Freddie Mac Home Possible mortgage suite and other low
downpayment mortgages designed to help low- and moderate-income
borrowers; and
•Technological advantages, including Freddie Mac's Loan
Prospector automated underwriting service and a Mortgagebot with
Loan Prospector business-to-consumer Web site for online mortgage
lending.
For more information, visit www.freddiemac.com or www.cuna.org.
