MBS Expands Credit Union First Mortgage Products
Grand Rapids, MI January 8 2004--MBS Mortgage Company, LLC is pleased to announce several new mortgage products developed to assist Credit Unions and their members nationwide.
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Manufactured housing:
Conventional financing to 95% for purchases and cash-out refinances to 90% of value.
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100% financing:
Zero down payment product developed for those with FICO scores as low as 600. This program is available for purchases or refinances and allows a 30 year fixed rate without mortgage insurance.
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Mortgage Only:
This product qualifies a member based on their mortgage history only. The product is available for those with credit scores as low as 500, and has no mortgage insurance or escrows.
MBS’s President, John Teweles stated, “We are excited to expand our mortgage products and are eager to serve even more Credit Union members. With our new first mortgage products we will be able to meet a wider spectrum of mortgage needs. As we continue to grow, MBS is focused on offering an extensive variety of products in both the conforming and non-conforming sectors.”
MBS Mortgage Company, LLC offers mortgage services to Credit Unions nationwide and is a division of Multi-Bank Services, Ltd. The company has specialized in meeting the needs of Credit Unions for institutional brokerage and mortgage services since 1985.
CONTACT: Chris Johnson
MBS Mortgage Company, LLC
Phone: 800-967-9043, extension 7301
Fax Number: 616-942-9713
Email address: cjohnson@mbscu.com
Website address: www.cumortgages.net
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