CUMEX Mortgage To Offer 40-YearMortgages
LEXINGTON, Mass. - (12/28/04) - CUMEX Mortgage Service Center said ithas received approval from Fannie Mae to offer 40-year mortgagesthrough a pilot program currently offered through 16 credit unionsnationwide. CUMEX, which provides mortgages services to creditunions in Massachusetts, Connecticut and Vermont, also said it hasintroduced an Interest-Only Mortgage, which allows borrowers tomake lower payments--only interest--in the earlier years of theloan. CUMEX Mortgage is a unit of Chittendon Corp., of Burlington,Vt.