NEW BRIGHTON, Minn. – CU Companies, a mortgage CUSO owned by area credit unions, is now offering a correspondent lending program for credit unions.
The program will allow participating credit unions to generate more revenue by giving them more control over the lending process. The credit union will originate, process, and close the loan while CU Companies will underwrite and purchase the closed loan.
“Our Correspondent Lending program is a solution that promotes loyalty,” said Brad Crandall, CEO of CU Companies. “We won’t back-solicit our partners’ members with financial services their credit union already provides.”
The program is being offered to credit unions in Illinois, Iowa, Minnesota, North Dakota, South Dakota and Wisconsin.
