CU Home Mortgage Solutions: Answers to FAQs

We’ve got answers to your questions

Read our most FAQs and find the answers to your questions about CU Home Mortgage Solutions’ online home loan origination system and more.

1) Do we need to be an approved seller/servicer with Fannie Mae or Freddie Mac?
No. CUHMS partners are not required to be approved as a seller/servicer. Loans will be underwritten, processed, and funded in the name of CUHMS. Partners will have the option to purchase loans for their portfolio and CUHMS will service those loans for them.

2) Can we transfer loans we currently have serviced elsewhere to CUHMS?
Yes, CUHMS provides an all inclusive mortgage servicing function. We have experienced servicing staff that will assist partners in transferring their existing loan portfolio.

3) Who is responsible for compliance in the loan lending process?
The partner application platform generates initial loan disclosures in the name of the partner credit unioin when the application is submitted. CUHMS then issues revised disclosures within 3 days of the application in the name of CUHMS. All revised disclosures are completed by CUHMS as each loan event occurs.

4) What about HMDA reporting compliance? All funded, cancelled, and denied loans are required to be reported under CUHMS name. However, partners are required to report all loans that they purchase from CUHMS and put in their loan portfolio. HMDA reporting data will be provided to the partner at time of funding each loan.