CU Mortgage Association Offers Harmony Loans
FAIRFAX, Va. – CU Mortgage Association said it has signed with Mortgage Harmony Corp. to offer the company’s Harmony Loan interest-rate resetting mortgage to its more than 40 credit union members based mostly in the Greater Washington, D.C. area.
The company said the Harmony Loan allows homeowners to adjust their interest rates with the market without the expense and hassle of a traditional refinance or new mortgage – aligning the interests of the consumer, loan officer and credit union. The Harmony Loan will allow credit union members to offer a product whereby the consumer can take advantage of lower interest rates without going through the refinancing process each time.
CUMA originates and services loans for its credit union members through a private label model.