Three Owners Share $1 Million CUMAnetPayout

February 13, 2006, 1:00 a.m. EST 1 Min Read

BASKING RIDGE, N.J. - (02/13/06) The CU Mortgage AllianceNetwork, known as CUMAnet, reported Friday it will return $1million in surplus funds to its three owners: Affinity FCU, GreaterAlliance FCU, and Proponent FCU. The CUSO cited increased backoffice efficiencies, including its agreement with Mortgagebot toprovide online mortgage lending services, along with a big jumprefinancings during 2005 for the excess income.

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