Freddie Mac/CUNA Alliance Adds Alaska USA as Correspondent Lender MCLEAN, Va., June 4 /PRNewswire/ -- The Freddie Mac/CUNA Alliance now offers more ways for credit unions to tap into a full range of mortgage products and secondary market executions without the need to add staff, build infrastructure, or install costly technology thanks to an agreement between Freddie Mac and Alaska USA Federal Credit Union. The Freddie Mac/CUNA Alliance provides participating credit unions with a comprehensive set of mortgage business advantages to help them become more competitive originators and effective managers of interest risk, including access to secondary market execution with as little as a single mortgage loan. The addition of Alaska USA gives credit unions more ways to serve their members with a wide range of 'best-fit' mortgage product options to help them move into a home including Freddie Mac's flagship Home Possible(R) Mortgages. Alaska USA's experienced staff can provide support throughout the entire process to help manage daily business activities and communicate new opportunities to build and enhance business. The loan process is seamless and offers a variety of ways for members to apply for a loan, including the ability to apply online through the credit unions' own Website using a customized branded application portal. "These enhancements give credit unions more flexibility in today's economic climate and better access to affordable lending solutions to meet the needs of low- to moderate-income borrowers," said Wes Millar, CUNA's senior vice president of Strategic Services. "Enhancing our alliance with CUNA underscores our long-standing commitment to credit unions and their members," said Iliana Ghanem, vice president for community lending at Freddie Mac. "We're very excited with the addition of Alaska USA, which gives CUNA members a full range of correspondent mortgage lending services and secondary market strategies without the cost of additional staff, infrastructure, or technology." "Alaska USA was the first federal credit union in the nation to issue a 30 year mortgage in 1978. Since that time we have continued to enhance our mortgage options and expertise. We are now able to offer these same services to other credit unions. With this program, credit unions can offer a full range of mortgage services to members with convenience and financial certainty," Said Bob Cejka, Alaska USA Senior Vice President for Correspondent Mortgage Lending Services. And, as always, the Freddie Mac/CUNA Alliance also provides participating credit unions with: -- Technological Advantages; such as Freddie Mac's Loan Prospector(R) automated underwriting service and a Mortgagebot with Loan Prospector business-to-consumer Web site for online mortgage lending; -- More mortgage product options; a wide variety of mortgages available through Freddie Mac's Single-Family Seller/Servicer Guide; and -- Education: assistance and training on Freddie Mac Home Possible Mortgage suite, and other low down payment mortgages designed to help low- and moderate-income borrowers. For more information on the CUNA/Freddie Mac alliance, call the alliance hotline at 866-220-2074 or visit the Freddie Mac/CUNA Alliance at http://freddiemac.com/singlefamily/cuna.html. CUNA members can also contact Tom Lybeck, product manager for CUNA's Strategic Services, at (800) 356-9655, ext. 4109, or visit http://www.cuna.org/ and select the "Freddie Mac/CUNA Alliance" link located under the "CUNA Initiatives" banner. For more information on the correspondent mortgage lending services provided by Alaska USA visit alaskausacorrespondentservices.com or contact Bob Cejka, Senior Vice President for Alaska USA, at (888) 575-2831, ext. 3793. Credit Union National Association (CUNA) serves more than 90 percent of America's 9,000 credit unions, which are owned by nearly 87 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. CUNA Strategic Services, Inc., owned jointly by CUNA and the state leagues, provides credit unions with access to high quality products, services and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development. For more information visit http://www.strategicservices.cuna.org/. Alaska USA Federal Credit Union is one of the largest and most diversified federal credit unions in the U.S., with $3 billion in assets and 300,000 members worldwide; operating in 65 credit union branch and subsidiary locations. Alaska USA is a leading mortgage loan originator with expertise in a wide range of mortgage programs and secondary markets. It has leveraged this expertise to offer other credit unions access to these capabilities on a correspondent basis. Alaska USA also owns and operates Alaska USA Mortgage Company, Alaska USA Trust Company, Alaska USA Insurance Brokers and is majority owner and operator of the Alaska Option Network. For more information, visit http://www.alaskausa.org/. Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters. For additional information about Freddie Mac, visit: http://www.freddiemac.com/. DATASOURCE: Freddie Mac CONTACT: Brad German of Freddie Mac, +1-703-903-2437; or Katye Long of CUNA Communications, +1-608-231-4038; or Bob Cejka of Alaska USA Federal Credit Union, +1-206-915-3863 Web site: http://www.freddiemac.com/ http://www.alaskausa.org/ http://www.strategicservices.cuna.org/

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