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PARTICIPATION
LEVELS
Your credit union determines the level of involvement in the mortgage lending process, based on the staff and resources you have available. CU Members Mortgage offers participation levels ranging from limited to extensive. This structure affords credit unions with the option of moving to a higher level of participation if desired. All participation levels are RESPA compliant.
Mortgage Ease I provides residential mortgage loans to your members with the least involvement and expense to your credit union. Loans are made in accordance with and conformity to secondary market guidelines.
Mortgage Ease II lets your credit union participate in the loan origination process by taking the loan application and conducting 5 origination functions for your members. This program is designed for credit unions that can devote a limited amount of staff to a mortgage program, and do not wish to incur the expense of a complete mortgage loan department. Your members apply for a mortgage online or at the credit union, allowing you to review the member’s financials and cross-sell additional financial products.
Mortgage Ease III lets your credit union handle all the functions of the origination process prior to underwriting. This program is designed for credit unions that can devote sufficient staff to operate a mortgage department within the credit union.
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