Home/Mortgages/Freddie Mac and CUNA Renew Alliance to Support Mortgage Services

June 14, 2011 (Shirley Allen)

Freddie Mac and the Credit Union National Association (CUNA) have renewed their alliance to provide a package of services for credit unions including tools designed to reach first-time homebuyers and low and moderate income homebuyers.

The renewed alliance allows credit unions access to Freddie Mac’s comprehensive set of technological services, mortgage products, and correspondent lending, including outreach initiatives.

CUNA member credit unions can get assistance and training on Freddie Mac’s CreditSmart, Get the Facts on Homeownership, Workforce Home Benefit (SM) and other tools designed to reach first-time home buyers and low and moderate income homebuyers.

Additional services available to credit unions include Freddie Mac’s automated underwriting service, Loan Prospector, and Freddie’s business-to-consumer website, Mortgagebot with Loan Prospector, for online mortgage lending.

“Extending our alliance with CUNA will enable participating credit unions to continue accessing a full range of correspondent mortgage lending services and competitive secondary market strategies,” said James Cotton, vice president for regional and community lending at Freddie Mac. “Helping credit unions meet their members’ mortgage needs underscores Freddie Mac’s national mission to keep the mortgage market stable and liquid in good times and bad.”

More information is available for CUNA credit unions on Freddie Mac’s website.

Tags: Freddie Mac, CUNA, credit unions, mortgage tools, first-time homebuyers, technological services, mortgage products