CUSO Sells $140M Portfolio
DENVER-Mortgage Liquidity Solutions, a CUSO owned by a number of credit unions, said it has sold a $140-million portfolio of residential first-mortgage loans using a loan participation structure for loans made by $1.5-billion Affinity Plus FCU in St. Paul, Minn. MLS was created in 2011. In addition to Affinity Plus, other CUs with an ownership stake in the CUSO are Bellco CU, Public Services CU, San Antonio CU and Teachers CU. It is managed by Gateway Services Group, LLC and The Rochdale Group, Inc.
For info: www.gsgllc.com
CUDL Conference In Chicago
ONTARIO, Calif.-CU Direct Corporation, parent company for the CUDL, Lending Insights, Lending 360 and CUDL Retail brands, announced its 14th annual CU lending conference will be held May 16-17 in Chicago at the Westin Chicago River North.
For info: www.cudirect.com
CMG MI Unveils EZ Decisioning
SAN FRANCISCO-CMG Mortgage Insurance Co. launched a new set of program guidelines called EZ Decisioning. Conforming mortgage loans that meet the EZ Decisioning criteria and have received a valid Desktop Underwriter Approve/Eligible, Desktop Underwriter Expanded Approval/Eligible or a Loan Prospector Accept/Eligible are eligible for CMG MI mortgage insurance coverage.
For info: www.cmgmi.com
Biz2Credit Selected As Partner
WASHINGTON-NAFCU Services Corp. said Biz2Credit has been selected as its Preferred Partner for small business lending deal flow and related solutions. Biz2Credit is an online small business platform that matches small businesses with lending institutions based on their business profile and preferences.
For info: www.nafcu.org/Biz2credit
CUC Mortgage Adds 4 Partners
ALBANY, N.Y.-CUC Mortgage Corporation said it ended 2011 by entering into four new partnership agreements: $17-million Alcose FCU, White Oak, Penn.; $297.9-million Cornerstone Community FCU, Lockport, N.Y.; $6.8-million S C M H Employees FCU, Pittsburgh; and, $1.3-million The Urban Street Biscuit Workers FCU, Buffalo, N.Y.
For info: www.cucmortgage.com
CU Members Mortgage Adds 43 CUs
DALLAS, TX-Despite a roller coaster year in the housing market, CU Members Mortgage said it added 43 new credit union clients, hired 15 new staff members, partnered with Mortgagebot to offer a new online mortgage resource application, and actively managed a host of new regulations that were imposed on the mortgage lending industry in 2011.
For info: www.cumembers.com
CU Companies Rides Momentum of Correspondent Lending
NEW BRIGHTON, Minn.-Five months into its fiscal year, CU Companies reported positive results in year-to-date earnings. The organization said structuring ancillary services around its core service of mortgage lending placed it in a position of health, despite the slow economic recovery.
For info: www.cucompanies.com
