U.S. Mortgage Corp. of Pinebrook, N.J., whose credit union lending affiliate went bust last week, has closed its doors according to industry sources and a posting on its website. Company officials could not be reached for comment Friday afternoon. One loan officer familiar with the company said it may have had a servicing portfolio as large as $1 billion but that figure could not be confirmed. A posting on the lender's website says it has ceased operations "due to unforeseen circumstances." USMC was the parent of CU National Mortgage, a private label funder that served the nation's smaller credit unions. CUNM was founded 13 years ago.
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