Refugees From CUNA Mutual Mortgage LaunchNew Mortgage Bank

MIDDLETON, Wis. - (04/25/06) – A new mortgage bank for creditunions formed by a group of former executives at CUNA MutualMortgage, who lost their jobs when the company was sold to PHH lastyear, will open here Thursday. Greystone Residential Funding Inc.is holding an open house for credit union officials at its newcorporate headquarters at the Wisconsin Trade Center here. Thecompany is headed by Dan Rotert and attempted to buy the CUNAMutual Mortgage assets before the credit union insurer sold itsmortgage operations to PHH Corp. last year. It has hired 18 formerCUNA Mutual Mortgage executives who are familiar with the creditunion market. Greystone Residential Mortgage is a subsidiary ofprivately held investment company Greystone & Co.