A Houston CUSO has expanded its services to originate mortgages for credit union customers.
The new service by eCU Mortgage is designed to streamline the mortgage process and deliver more revenue to credit unions when loans are sold on the secondary market.
The CUSO is a subsidiary of First Service Credit Union of Houston ($671.7 million in assets, 56,669 members). The CUSO was formed only three years ago, and is now also confining its business to Texas. The state's 467 credit unions had 8.5 million members and $97.5 billion in assets as of March 31, or 7% of the nation's credit union assets.
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