The Rewards Program is a RESPA compliant program developed by CUMC Mortgage Company designed to solidify partnerships between member credit unions and CUMC Mortgage Company.
This three-tiered program gives the credit union different levels of involvement depending on the amount of in-house work they do. The different levels are:
The credit union is responsible for:
- Completing application
- Completing borrower certification form
- Collecting up-front application fee, $50 credit report fee and $300 appraisal fee
- Collecting alt docs at application
The credit union is responsible for:
- Everything included in the Silver Package
- Completing "Good Faith Estimate"
- Contacting the member about required documents
- Collecting purchase agreement (when applicable)
- Collecting $300 for appraisal fee after application
- Ordering appraisal
- Ordering title commitment
The credit union is responsible for:
- Everything included in the Gold Package
- Contacting member about required documents
- Scheduling closing with members, title company, Realtor or seller, and CUMC closing department
At CUMC Mortgage Company we want to be more than your mortgage lender, we want to be a partner with you. We back up our programs with our 5-Star Guarantee.
