CUNA Mutual Mortgage Refugees Form OwnLender

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MADISON, Wis. - (12/26/05) -- A group of former workers at CUNAMutual Mortgage, who lost their jobs when the company was sold toPHH earlier this year, have created their own mortgage company. Thenew company, called Greystone Residential Funding, plans to targetformer credit union customers of CUNA Mutual Mortgage. The foundersof the new venture include 18 former CUNA Mutual employees headedby Dan Rotert, who had served as chief operating officer of CUNAMutual Mortgage. Greystone Residential Mortgage will be asubsidiary of New York-based Greystone & Co., which has officesin 18 states.

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