The possibility that credit unions might be able to develop other secondary markets for their mortgage loans received a boost Wednesday when Mortgage Liquidity Solutions, a CUSO founded by five large credit unions in 2011, announced it sold a pool of $140 million in mortgage loans from the $1.4 billion Affinity Plus Federal Credit Union in St. Paul, Minn.
Affinity Plus is one of the five founders of the CUSO, along with Bellco CU, Public Services CU, San Antonio CU and Teachers CU.
"We have experienced record growth in our residential mortgage demand from members," said Brian Volkmann, Affinity Plus vice president of lending.
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