c.u. mortgage services, inc.

500 main street, suite 100
new brighton, minnesota 55112

NYS Entity Status
ACTIVE

NYS Filing Date
JULY 14, 2014

NYS DOS ID#
4605858

County
ALBANY

Jurisdiction
MINNESOTA

Registered Agent
NONE

NYS Entity Type
FOREIGN BUSINESS CORPORATION

Name History
2014 - C.U. MORTGAGE SERVICES, INC.









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  • AROUND THE WEB

  • Nonbank lenders surging in California mortgage market
    By Kathleen Pender - Tuesday Jul 12, 2016

    Nonbank lenders surging in California mortgage marketThe number of home loans originated in California by nonbank lenders soared last year to 537,757, up 47.3 percent from 2014, according to a report issued Monday by the California Department of Business Oversight.The principal amount of mortgages originated in the state by nonbank lenders last year grew 56.7 percent, to $179.3 billion.Nationwide, the principal amount of nonbank mortgage originations grew only 43.9 percent between 2014 and 2015, according to Guy Cecala, publisher of Inside Mortgage Finance.The California department regulates nonbank lenders, meaning those that do not accept insured deposits to make loans, like traditional banks do.The department could not say how much of the growth in nonbank mortgage lending came from an increase in the underlying loan market and how much from nonbanks taking business from banks.Nationwide, however, nonbanks have been taking big chunks of market share from banks.In the first quarter of 2016, the nonbank share of U.S. originations was 48.3 percent.“Banks are pulling back from certain types of mortgage lending due to settlements (with government agencies) and enforcement actions,” Cecala said.Banks are still dominant in jumbos, but it’s only 20 percent of the market.The other 80 percent, they are reducing, and that is giving an opening and the nonbanks are stepping in to fill that void, Cecala said.Nonbanks typically borrow money from investors or banks to make loans, then quickly sell these loans to Fannie Mae, Freddie Mac, banks and other buyers, so they can repay their loans and start the process over again.Banks also sell loans but hold onto some of them.Many banks and nonbanks continue to service loans they sell for a fee.Servicers collect payments, forward them to the new loan owner and take action when borrowers fall behind.“Mortgage lending has pretty thin profit margins,” said Keith Gumbinger, a vice president with mortgage information service HSH Associates.Nationwide, San Francisco’s Wells Fargo was still the nation’s largest mortgage lender in the first quarter of this year, with 11.4 percent of the market, but that was down from 28.2 percent in the first quarter of 2012.Chase was number two in the first quarter, followed by Quicken Loans, the largest nonbank lender nationwide, according to Inside Mortgage Finance.Quicken Loans was also the largest nonbank lender in California last year, according to the department.Kathleen Pender is a San Francisco Chronicle columnist.Top nonbank lendersCalifornia mortgages by nonbank lenders in 2015Quicken LoansPinnacle Capital MortgageUnited Shore Financial ServicesCalifornia Department of Business Oversight

    Source: SFGATE.com: Net Worth - Kathleen Pender blog
  • Broker Agent 360 and Movement Mortgage Partner
    By Business Wire - Thursday Jul 13, 2017

    Broker Agent 360 has signed an agreement with Movement Mortgage to create and provide customized lead generation services for the company's loan officer and real estate agent relationships throughout the United States. "We...

    Source: VentureBeat
  • Wells Fargo stuck mortgage borrowers with extra fees, suit says
    By James Rufus Koren - Friday Jul 14, 2017

    A former Wells Fargo mortgage banker who worked in Beverly Hills alleged in a lawsuit this week that the bank falsified records so it could blame delays on borrowers — and that it fired him for trying to report the practice.The legal action follows a months-long internal investigation into the alleged abusive practices, one that contributed to an executive shakeup in the San Francisco bank’s mortgage business.When borrowers apply for mortgages, they are typically guaranteed a set interest rate — assuming the loan is approved within a certain period, often 30 to 45 days.If approval takes longer, borrowers can still get the promised rate, but there are financing costs associated with extending guarantees.Alaniz’s complaint mirrors claims made by another former Wells Fargo mortgage banker, Frank Chavez, in a letter sent last year to members of the House Financial Services Committee and the Senate banking committee.Other mortgage lenders cut back around that time, too, as the volume of mortgage applications declined following a surge of refinancing driven by record low interest rates.

    Source: SFGATE.com: Business and Technology News
  • Food & Wine Magazine Will Leave New York for Alabama
    By STEPHANIE STROM - Friday Jun 23, 2017

    The move reflects a changing business in which traditional food magazines, and a Manhattan address, are less important.

    Source: NYT > Home Page
  • Business News Roundup, July 14
    By Chronicle News Services - Thursday Jul 13, 2017

    Online shoppers looking to score bargains during the Nordstrom anniversary sale instead faced glitches.The Seattle department store chain apologized, tweeting that it was working to resolve the issue.Frustrated shoppers took to social media to vent, with one saying it was “unbelievable” that Nordstrom wasn’t ready to handle the traffic on such a big shopping day.Uber is ceding control of the Russian market by agreeing to merge its ride-hailing business in the country with Yandex, the Russian search-engine leader that also runs a popular taxi-booking app.For Uber, the deal marks the exit from another big market after it sold its operations in China last year to local rival Didi Chuxing.The CEO of Yandex Taxi, Tigran Khudaverdyan, will become the chief executive of the combined company.Long-term U.S. mortgage rates rose this week for the second straight week.Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate mortgages increased to an average 4.03 percent from 3.96 percent last week.The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, rose to 3.29 percent last week from 3.22 percent.Fewer Americans applied for jobless aid last week, as the number of people seeking benefits has stayed near historic lows pointing to a robust job market.The number of people collecting unemployment benefits has fallen 8.8 percent over the past 12 months to 1.9 million.The job market appears solid as the U.S. enters its ninth year of recovery from the Great Recession.Consistent hiring has helped sustain the gradual recovery, although the expansion is starting to show its age as the pace of job gains has slowed this year.An investment group led by a former Chicago alderman and a coalition of labor unions are the new owners of the Chicago Sun-Times, officials announced Thursday.“We are investing in a journalistic voice that’s genuine, accurate and consistently reporting news that matters to the people of Chicago,” said former Alderman Edwin Eisendrath, who will serve as CEO of the Chicago Sun-Times, said in an email.Eisendrath, who left the City Council when President Bill Clinton appointed him to a Department of Housing and Urban Development post, submitted a bid last month after Sun-Times owner Wrapports LLC announced it would enter into discussions with Tronc Inc., which owns the rival Chicago Tribune.

    Source: SFGATE.com: Business and Technology News
  • Tech Fix: What You Need to Know About the New Uber
    By BRIAN X. CHEN - Wednesday Jun 21, 2017

    The company has been dogged by scandal for months. One response: changes to its all-important app.

    Source: NYT > Home Page
cu mortgage services inc new brighton ny