Our Process crafted with YOUR Credit Union top of mind
Initial member inquiry:
Our team will track all of your mortgage leads with milestone email updates, as well as a weekly pipeline reports sent directly to you.
Credit Union First Right of Refusal:
Each team member will provide the First Right of Refusal package (FROR) to your credit union to determine if you want to accept (option A) or deny the loan (option B)
Option A – Your Credit Union accepts the loan. CU Mortgage Partners will:
Coordinate with the member, through a secure portal, to facilitate getting all of the necessary documentation for the transaction.
Open and manage the escrow and funding.
Provide disclosures to the member with the terms the credit union provides as part of the First Right of Refusal (FROR).
Order and track the appraisal and deliver securely to the member.
Order any verifications your Credit Union requires (ie VOE, SSA, 4506T, etc).
Prepare and send out the Closing Disclosure.
Prepare and coordinate the signing of the final loan documents with the member and escrow.
Facilitate funding and recording of the new loan.
Provide your credit union with a digital or paper closing package (your choice) containing all of the necessary documents needed, as required by Federal and State regulators.
Option B – Your Credit Union Denies the loan
CU Mortgage Partners has a Nationally Recognized mortgage broker partner, Stonecastle Mortgage, to be sure your member still gets the mortgage they need. Stonecastle Mortgage has access to competitive rates and products in the marketplace.
**The member still uses the Credit Union for their future needs. Stonecastle simply provides the one time service, as needed**
