New Mortgage Bank Launched
A new mortgage bank for credit unions formed by a group of former executives at CUNA Mutual Mortgage, who lost their jobs when the company was sold to PHH last year, opened last week.
Greystone Residential Funding Inc. is headed by Dan Rotert and attempted to buy the CUNA Mutual Mortgage assets before the credit union insurer sold its mortgage operations to PHH Corp. last year.
It has hired 18 former CUNA Mutual Mortgage executives. Greystone Residential Mortgage is a subsidiary of privately held investment company Greystone & Co.