CU West Mortgage To Raise NewCapital

February 08, 2005, 1:00 a.m. EST 1 Min Read

RANCHO CUCAMONGA, Calif. - (02/08/05) -- CU West Mortgage, a fledglingmortgage bank founded by the California CU League and Orange CountyTeachers FCU, said it plans to raise $1 million in new capitalthrough a private stock offering to help finance an expansion ofoperations. The company said it closed on $6.5 million in loans inDecember and ended 2004 with 36 credit union clients, with plans toadd another 35 credit unions in 2005. CU West Mortgage originates,processes, underwrites, closes and services loans for credit unionsin California and Nevada.

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