Norcom will help you retain your members so they do not take their services to their local bank.
Partnerships with Small Credit Unions
We help credit unions who do not have the staff or the liquid assets to be able to provide a mortgage department. This is the lowest level of involvement and we will supply you with everything to get you started and continue to support you in offering the best products and programs to your members.
Partnerships with Mid- Size Credit Unions
We help credit unions who have a staff or mortgage department but need additional resources to offer their members. The products generally will be conventional loans 10-30 years with PMI or maybe you only go to 80% LTV. We fully understand compliance and how most regulators do not like to see 30 year fixed on credit union books. This would give you the outlet as well as the ability to offer the government loans that do require separate underwriters and additional cost.
Partnerships with Large Credit Union
We help credit unions who have an intelligent mortgage department but you do not want to deal with government loans. Our company will allow you to focus on what you are good at and still have the ability to offer your members the government programs that may be available.
Service Level Agreements available for every size Credit Union
- Lead Agreements – This is an agreement where the credit union can generate revenue based on each qualified lead and not based on the loan closing.
- Broker Agreements – This is an agreement where the credit union generates revenue on a fixed basis points. Your credit union must have a licensed NMLS loan officer to participate in this program.
- Portfolio Agreements-Does your credit union wish to retain loans? This is an agreement where Norcom will process and underwrite portfolio mortgages to credit union policy. You can retain the loans in your portfolio.
Contact Audra Santos at 203-526-9345 for more information on our agreements. We look forward to serving your credit union and your members.