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Mortgage CUSO in Kansas hits $1 billion mark

LENEXA, Kan. (5/16/08)--TruHome Solutions LLC, a full-service mortgage credit union service organization (CUSO) based in Lenexa, Kan., has reached the $1 billion mark in mortgage servicing, the company announced.

The CUSO offers mortgage origination, underwriting and servicing services to credit unions.

Keeping the servicing function on members' mortgages is "an important relationship tool for credit unions, said Keith Varney, chief operating officers of TruHome Solutions.

By retaining the servicing rights, a credit union "has the opportunity to be involved in one of the largest investments members make," he said. "When a credit union sells its rights to service (the mortgage), it can lose the connection between the product and the person," Varney said.

Servicing mortgages also helps credit unions earn non-interest income, "a relatively simple way to increase earnings without burdening members," he added.

The growth is a result of an active campaign aimed at gaining advantages associated with economies of scale, Varney said.