North, South Carolina CU Mortgage Lenders form Real Estate Network

CHARLOTTE, N.C. – Following the lead of credit unions in three other southeastern states, a group of 17 mortgage executives from 10 credit unions in North and South Carolina have launched a new credit union real estate network (CUREN) for credit unions in those states. The credit unions include: State Employees CU, Carolinas Telco CU, Truliant FCU, Allegacy FCU, Palmetto Citizens FCU, Founders FCU, South Carolina State CU, South Carolina FCU, Fort Jackson FCU, and South Carolina Telco FCU. The formation of the North and South Carolina CUREN was facilitated by United Guaranty Residential Insurance Company, a provider of mortgage guaranty insurance for first and second mortgages and a subsidiary of United Guaranty Corp. Blaine Moricle, vp of production for UGRIC said the company saw forming the CUREN as an opportunity for credit union mortgage lenders in North and South Carolina “to come together to network, share new ideas and take advantage of educational opportunities to help expand the mortgage lending business for credit unions, Moricle stressed that a CUREN is “purely a networking, best practice type of operation.” In June 2003, the company was instrumental in the formation of a CUREN for credit unions in Alabama, Georgia and Tennessee. CURENs are also active in southern and northern California, the Mid-Atlantic area, Washington State, Texas, and Florida, but UGRIC was not involved with setting those up. Moricle said the CUREN will meet on a quarterly basis at rotating locations throughout the Carolinas, and more credit unions can join if they’re interested. Bob Dorsa, executive director of the American Credit Union Mortgage Association commented on CUs’ formation of CURENS, saying “it’s in the best interest of credit unions to share ideas and strategies regionally to compete for the purchase market.” -