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
  • Publisher Tronc acquires Daily News, storied NY tabloid
    By JENNIFER PELTZ, Associated Press - Monday Sep 4, 2017

    NEW YORK (AP) — Newspaper publisher Tronc has acquired the Daily News, a storied New York tabloid newspaper that won a Pulitzer Prize this year but has been buffeted by the changing media environment.Chicago-based Tronc Inc., the publisher of the Los Angeles Times and the Chicago Tribune, announced the deal Monday night, and the Daily News posted a story on its website.Tronc CEO Justin Dearborn said acquiring the paper and its popular website would "provide us with another strategic platform for growing our digital business, expanding our reach and broadening our services for advertisers and marketers," and both Tronc and Daily News executives said the company would maintain the quality of the paper's journalism.

    Source: SFGATE.com: Top News Stories
  • Trump might break mortgage deductions promise: report
    By Bob Fredericks - Friday Aug 4, 2017

    The Trump administration may break a promise and reduce the $ 1 million cap on mortgage deductions for US homeowners, a new report said Friday. Politico said the fate of the popular deduction — which allows homeowners to avoid income taxes on mortgages up to the million-dollar mark — came up this week at a...

    Source: New York Post: News
  • 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
  • Britain Bans Betting in Soccer, but Not for ‘The Lizard’
    By DANNY HAKIM - Friday Aug 11, 2017

    The F.A. told The New York Times it has unpublished rules for people like Tony Bloom, owner of Brighton & Hove Albion, who have gambling interests.

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