Minnesota credit unions have the opportunity to strengthen their internal mortgage programs thanks to a newly-formed partnership between the Minnesota Credit Union Network (MnCUN) and AmeriCU Mortgage. Building upon credit unions' existing mortgage products and services, AmeriCU Mortgage enables Minnesota credit unions of all sizes to offer members affordable mortgage financing while maximizing income.
AmeriCU Mortgage's unique service model allows credit unions to choose the level of support that works best for them and their members. With options ranging from correspondent services to complete outsourcing, credit unions can be involved in the mortgage financing process as much – or as little – as desired.
AmeriCU Mortgage believes that lending should remain community-based. They provide varying levels of support, enabling credit union personnel to determine the level of involvement they wish to have – from taking member loan applications to collecting monthly payments.
- Correspondent: The credit union originates and processes the loan then AmeriCU closes and services the loan on the credit union's behalf.
- Wholesale: The credit union originates and processes the loan then AmeriCU underwrites, closes and services the loan on the behalf of the credit union.
- Servicing: The credit union performs all aspects of the mortgage process and AmeriCU services the loan on the behalf of the credit union.
- Outsource: AmeriCU performs all aspects of the mortgage process on the credit union's behalf.
AmeriCU Mortgage offers a dozen mortgage products, including conventional, FHA, Homepath and Reverse Mortgages. Their complete list of products includes:
- HARP Programs
- HUD $100 Down
- 203 (k) Full
- 203 (k) Streamline
- HomeStyle Remodeler
- Rural Development
- Homepath Renovation
- Reverse Mortgages
Additionally, AmeriCU Mortgage lessens the burden on credit unions by offering loan and private label servicing. These options are customized to complement credit unions' financial offerings, parallel the services they provide, and strengthen the relationship between the credit union and its members.
About AmeriCU Mortgage
AmeriCU Mortgage is a family-owned, full-service real estate financing firm that specializes in working with credit unions to help members buy, build and improve homes and investment properties. The organization's innovative marketing and compliance support plays a vital role in helping credit unions maximize mortgage lending income.
To learn more about AmeriCU Mortgage and to sign up for its services, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5505.