Your Partner not Your Competitor Who Are We and What Do We Do A mortgage solutions provider A Plug and Play Mortgage Fulfillment Center 2 What Loan Products Do We Offer FNMA FHLMC Fixed Rate and ARM Loan Programs ID: 802220
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“Proven Performance in the Credit Union Space”
Your Partner, not Your Competitor !
Slide2Who Are We andWhat Do We Do?
A mortgage solutions provider –
A “Plug and Play”
Mortgage Fulfillment Center
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Slide3What Loan Products Do We Offer?
FNMA / FHLMC Fixed Rate and ARM Loan ProgramsJumbo Fixed Rate and ARM Loan Programs
FHA / VA Fixed Rate and ARM Loan Programs
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Slide4Where Do We Operate ?4
Slide5CompanyBackground
CUSO Mortgage (privately owned)
Established in 1986 in Sacramento, CA
Acquired by Wescom in October 2006CU West Mortgage (owned by California Credit Union League)Established in 2004
Acquired by Wescom in July 2007
Companies were integrated operationally in 2007
Companies were officially merged in June 2008
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Slide6What is Our Value Proposition ?
Non-interest income from mortgage origination without the compliance, recourse, interest rate and overhead risks.Access to secondary mortgage markets and products without the need for staff or expertise.
Low cost mortgage servicing with high touch member service. Clients get the comfort of knowing their member’s mortgages are serviced with “high touch” member facing staff and that all state and federal regulations are being complied with so that they will not be subject to sanctions and penalties.
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Slide7What does it Cost to Outsource Origination
to CMI ?
No Cost to Start
No Monthly or Annual Maintenance Fees
No Set Up or Implementation FeesNo Minimum Volume Requirement7
Slide8Two Origination Channels to Choose From
Level A – Outsource all loan officer and fulfillment functions
Level B – Keep loan officer responsibility and outsource all fulfillment functions
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Slide9Level A Origination Channel
CMI takes application, discloses, processes, underwrites, draws loan docs , facilitates fundingPartner wires funds to closing agent, CMI buys loan after funded or delivers to partner – CMI or partner can service
Partner has first right of refusal on all loans
Partner is provided CMI’s Web Based Point of Sale Application Technology (
Accenture Mortgage Cadence)CMI offers branded and/or custom marketing counsel and services at discounted pricing9
Slide10BenefitsLevel A Channel
Toll free calls to professional Loan Originators licensed through NMLS
Online Member Application and Approvals 24/7
Processing To Closing
at Industry Average or LessOption to retain or sell each mortgage originated -50- 125 basis points loan sale participation
RESPA compliant volume rebate ( Tier Pay ) – earn additional loan sale premiumsNon interest income without the attendant expense
Free technology ( origination and servicing ) that enhances image
No repurchase risk
No solicitation of your members
No risk of sanction or fine for compliance with lending regulations
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Slide11Level B Origination Channel
Partner loan officer takes application, discloses, locks and uploads supporting credit package documentsCMI processes, underwrites, draws loan docs , facilitates fundingPartner wires funds to closing agent, CMI buys loan after funded or delivers to partner – CMI or partner can service
Partner has first right of refusal on all loans
Partner is provided CMI’s Web Based Point of Sale Application Technology (
Accenture Mortgage Cadence)CMI offers branded and/or custom marketing counsel and services at discounted pricing
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Slide12BenefitsLevel B Channel
Online Member Application
and Approvals 24/7
Processing To Closing
at Industry Average or LessOption to retain or sell each mortgage originated – 75 - 125 basis points loan sale participation
RESPA compliant volume rebate ( Tier Pay
) – earn additional loan sale premiums
Non interest income without the attendant expense
Free technology ( origination and servicing ) that enhances image
No repurchase risk
No solicitation of your members
No risk of sanction or fine for compliance with lending regulations
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Slide13Our Origination Solutions Provide Free Web Based Loan Application Technology
Slide14With Online Access for Pipeline Review
Enter our secure website and view your pipeline of loans 24/7
See summary and detailed information of your complete pipeline
Slide15Our Servicing Solutions Provide 24/7 Online Access Self Service and High
Touch Staff Interaction
Slide16Our Solutions Provide Marketing Collaboration and Consultation
The key to success with any marketing program is quality, frequency and consistency. CUSO is committed to working with you to help promote mortgages to your members.
We provide a variety of marketing materials developed by us that may be branded. By keeping an ongoing branded campaign in place, interest in your mortgage loan programs will be assured.
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Slide17Launch Your Program with a Professionally Designed Kick Off Campaign
Slide18Keep It Going with a Pre-Developed 12 Month Campaign
Slide19SUMMARY OF BENEFITS CMI partners earn non interest income and incur no expense – CUSO takes on all overhead risk
CMI partners have no interest rate risk or repurchase risk on loans sold – CUSO takes on bothCMI partners have no compliance risk - exposure to fines and regulatory sanction is avoided – CUSO takes on the compliance risk
CMI partners are able to offer mortgages to customers when liquidity is limited – CMI provides access to the secondary mortgage markets
CMI provided technology provides robust member facing interaction and enhances our partner’s image with their members
CMI provides its partners professional marketing and consultation with discounted pricing19
Slide20Questions?20