Our mission is to enhance the mortgage product offerings for all Credit Unions, be it owners or affiliates, by way of the diverse mortgage products offered and by keeping each Credit Union's mortgage origination and servicing income in the communities they serve.
Neighborhood Mortgage Solutions (NMS) is a Credit Union owned Credit Union Service Organization (CUSO) providing Mortgage services to fellow Credit Unions. NMS provides the expertise needed to work with Fannie Mae and government sponsored loan programs. NMS, together with Prime Alliance (processing system), offer the convenience required to be an option in the Mortgage business, resulting in a seamless mortgage offering to your members.
What's in the Name?
This mortgage CUSO is named Neighborhood Mortgage Solutions because the main objective is to keep more of your members’ dollars in the communities and neighborhoods your credit union serves. NMS’ servicing partnership option enables the cash flow from servicing to flow back to the credit unions from which they were originated.
Neighborhood Mortgage Solutions has established relationships with federal agencies and can help your credit union offer mortgage products that include 30-year loans with as little as no money down. On all purchases, Neighborhood Mortgage Solutions allows the seller to contribute closing costs and escrow deposits for the buyer.
Neighborhood Mortgage Solution’s mortgage product offerings include Fixed, FHA, and Rural Development.
Other features include:
- In many cases, all mortgage functions, including servicing, will be kept in the credit union with the exception of FHA loans, meaning members can make their payments at the credit union or online.
- Web applications.
- Realtor use of website Mortgage Qualification Calculators.
- Lower up-front closing costs in keeping with the member-friendly approach of credit unions.
The key factor to remember is that your member will be dealing with your credit union and the Neighborhood Mortgage Solutions personnel from the application process through the loan payoff.
Mortgage Training Links
|Mortgage-U.com Product Training
|Servicing Quality Control
Other Mortgage Links
|Rural Development for Income & Property Eligibility
|FHA Website for Q&A and Additional Resources
|Prime Alliance Login
|Fannie Mae LLPA Matrix
|Servicing Quality Control
Thank you so much for the accolades, a big thank you goes out to you and your team as well. NMS has so many layers of QC review prior to closing that has helped us out tremendously. Thanks again, NMS really helps us to shine for our members as well as the auditors.Barbara Zendzion, CorePlus Federal Credit Union
Neighborhood Mortgaage Solutions Team
For more information or to set up a consultation, please contact us.