DALLAS (10/18/11)--CU Members Mortgage has recognized six of its credit union partners and one league for for mortgage performance. The credit union organizations recognized include:
* Greater Texas FCU, Austin, Texas; * Riverland CU, New Orleans; * Eli Lilly FCU, Indianapolis; * Security Service FCU, San Antonio; * Sandia Area FCU, Albuquerque, N.M.; * League of Southeastern Credit Unions, which serves Alabama and Florida credit unions; and * Eli Lilly FCU, Indianapolis.
The awards were based on the credit unions’ scores using CU Members’ Scorecard. The scorecard process was developed to emphasize how credit unions can evaluate the progress, effectiveness and quality of their mortgage program. The scorecard takes into account factors such as the ratio of home loans that are purchased compared to home loans refinanced, average borrower FICO scores, a low percentage of early payoffs, and a scant default ratio. Credit unions also score points for innovative marketing initiatives and attending educational training sessions. “As the economy continues to flounder, these credit unions have performed on the opposite end of the spectrum--excelling in a time when many are not,” said Linda Clampitt, CU Members Mortgage senior vice president. “They have exceeded in a tough mortgage lending market when they are against some formidable odds. Instead of scrambling during these tough times, they have stepped up and provided their members with a great service that without a doubt has increased their value.” Dallas-based CU Members Mortgage provides mortgage services to more than 1,000 credit unions, credit union service organizations and leagues nationwide.