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Prime Alliance Recording 20% Annual Growth

TUKWILA, Wash. -- Even as mortgage production has decreased 15% from last year due to the subprime meltdown, Prime Alliance Solutions Inc., the mortgage CUSO here, reported an increase of 20% in mortgage transactions from 2006 to 2007.

By Staff Writer | Updated on April 29, 2008

TUKWILA, Wash. — Even as mortgage production has decreased 15% from last year due to the subprime meltdown, Prime Alliance Solutions Inc., the mortgage CUSO here, reported an increase of 20% in mortgage transactions from 2006 to 2007.

“Members are turning to reliable, trustworthy lenders,” said CEO Joe Brancucci. “Credit unions provide the surest landing in the ongoing flight to safety. While the mortgage industry focused on subprime lending, Prime Alliance credit unions spent the last several years improving strategy and operations. As a result members are benefiting in the forms of sustainable mortgage products, ease of origination and lower overall cost of borrowing,” he added. “There’s never been a better time for nor have credit unions been better positioned to fulfill their members housing finance needs,” said Brancucci.

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