Providing services and products for:
Community Mortgage Funding (CMF) is a fully-licensed mortgage company owned by Southern California Edison FCU and Farmers Insurance Group FCU. It has a long track record of generating a significantly higher level of purchasing power with outside service providers, resulting in savings that are passed down to credit union members.
Here is what some of CMF's client credit unions had to say about their experience with CMF:
CMF has been a great partner for our Credit Union's mortgage operation. Their excellence in contracted services and help with our FHA program has enabled us to take advantage of some great opportunities in the marketplace. I highly recommend it!—Jeff Harper, VP of Lending for Orange County's CU
CMF has very knowledgeable loan officers and processors working for them. Very supportive of our staff on a daily basis or when training or any assistance that maybe needed. Processing and underwriting turnaround times are competitive with other lenders. Members do come back to thank us for our great service and the care in which CMF handles their loan and this is critical to Chaffey FCU.— Irene Simonetty, VP of Chaffey FCU
The success of CMF is largely in part of its three business models designed to accommodate the best level of participation for each credit union:
Sales Builder Track The Sales Builder Track is designed for credit unions that want to offer their members loan programs without the associated operational costs. This means that CMF performs all of the mortgage functions of the transaction and walks members through the loan process, including loan selection and approval. The credit union can then purchase the loan for their portfolio, or CMF sells the loan to a secondary market investor of its choice.
Relationship Builder Track The Relationship Builder Track is best suited for credit unions that want to take a more active role in the application process. The credit union takes the member's loan application and serves as the home loan advisor. CMG acts as the loan officer and processor, performing all processing and servicing functions. Like the Sales Builder Track, the credit union purchases the loan for their portfolio, or CMF sells the loan to a secondary market investor of its choice.
Business Builder Track The Business Builder Track allows credit unions to perform the role of a third-party originator and generate the lender's fee income by managing all origination and processing functions. CMF provides underwriting, closing, funding, and loan servicing functions.