MBS Mortgage Co. LLC, Grand Rapids, Mich., has announced the addition of several mortgage programs designed exclusively for credit union members.The new offerings include: a stated-income program; one-time closing, for new construction mortgages; 100% mortgages for refinances and purchases; and expanded programs for credit-challenged members. "Twenty-five to 30 percent of [credit union] members are unable to qualify for traditional conventional mortgages," said MBS Mortgage president John Teweles. "We now have programs available for many of these members.” MBS Mortgage, a division of Multi-Bank Services Ltd., offers mortgage services to credit unions in the Midwestern and Eastern United States.
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