Now that the NCUA has approved changes to the loan participation rule, Catalyst Corporate Federal Credit Union said it is ready to roll out a new program.
The corporate credit union based in Plano, Texas, first revealed details on launching an agent loan participation program back in February.
Catalyst Corporate said it will act as the facilitator, bringing the buyers and sellers together in the loan participation process, but will not participate in the loans. Loan packages are comprised of consumer loans such as auto loans and first mortgages rather than commercial loans.
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