Members Mortgage Company
10 Cedar Street, Suite 11 Woburn, MA 01801
Toll Free (800) 316-9790 (781) 376-9020
Fax: (781) 376-0667
email: info@membersmortgage.com
 
Loan Origination
Serve members and build your mortgage portfolio with Loan Origination services from Members Mortgage Company.

With Retail Loan Origination services, MMC serves as your credit union’s mortgage department, managing the entire process from application through closing and sale on the secondary market. This is a great choice for credit unions with limited mortgage lending resources.

With our Correspondent Loan Origination services, your loan officers control the application and closing process and manage all contact with the borrower until we sell the loan on the secondary market. The Correspondent service enhances existing mortgage programs, allowing you to expand options by introducing ARM program, jumbo loans and other offerings.

Key Features

Choose the Loan Origination program that’s right for your credit union.

                 Retail Program Correspondent Program
Staff MMC is the credit union's mortgage department, managing everything from application through closing and, if the loan remains with the credit union, servicing. Members reach us via an 800# or through your credit union's MortgageClick® Web site. The credit union manages the mortgage process, from application through closing and maintains all contact with members.
Sale MMC sells the loan to an investor or back to the credit union. MMC sells the loan on the secondary market for the credit union.
Servicing If the loan remains with the credit union, MMC provides private-label loan servicing for an annual fee based on the mortgage balance. Servicing is provided by the investor who purchases the loan.
Risk MMC assumes all compliance and regulatory risk. The credit union assumes all risk, including compliance and regulatory risk.
Rates The credit union uses MMC's rates, provided daily. Credit Unions set their own rates; MMC provides a daily correspondent rate sheet for the credit union's use. Most credit unions set their rates to earn one point on the sale.
MortgageClick™ MMC creates a private-label MortgageClick® Web site and trains your staff to accept applications with MortgageClick®. MMC creates a private-label MortgageClick® Web site and trains your staff to accept applications with MortgageClick®.


Benefits
  • Improve service and recruit and retain members – Whether you choose Retail or Correspondent Loan Origination services, MMC expands your credit union’s lending offerings, and improves member service.

  • Generate more mortgages with MortgageClick™ – MortgageClick™ extends the reach of your mortgage program. Call center staff, branch staff and loan officers can process applications or members may apply online any time. On your credit union's customized MortgageClick™ Web site, members learn about the mortgage process, explore loan options, use calculators, file an application and receive an approval letter within minutes.

  • Promote your credit union – MMC provides high quality marketing material to promote your credit union’s mortgage programs – you pay only for printing and postage.
Get Started

To learn more about Loan Origination, contact Joe Zampitella at (800) 316-9790 or
e-mail joe@membersmortgage.com.

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10 Cedar Street, Suite 11 • Woburn, MA 01801
Toll Free: 800.316.9790 • Tell: 781.376.9020 • Fax: 781.376.0667
ML #3250 | RI #96000619LL | CT #6249 | ME #SLM3178| NH #5443-MB Licensed by the New Hampshire banking department
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