Altisource, Members United Ink Deal On Loss Mit

Under a newly announced agreement, Altisource Portfolio Solutions SA will provide origination, loss mitigation and real estate services, as well as technology, to credit unions belonging to Members United Corporate Federal Credit Union. Warrenville, Ill.-based Members United provides wholesale investment, credit, payment and correspondent services to approximately 2,100 credit unions.

Altisource will help member credit unions manage distressed loans and process mortgage applications, says Kevin Brauer, senior vice president of member relations for Members United.

‘Due to the unique nature of each member's business, an 'off-the-shelf' solution would not address our needs,’ adds Tim Bruculere, vice president of lending for Members United, who says several companies were interviewed.

SOURCE: Altisource

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