America's Credit Unions Rescue American Homeowners...

LAS VEGAS, July 23 /PRNewswire-USNewswire/ -- For a number of reasons,
mortgage bankers from many circles aren't getting much respect these days. In
fact, mortgage brokers have joined the ranks of lawyers and dentists as some
of the most dreaded professions. However, despite instability in the
mortgage-banking arena, America's credit unions remain strong and safe for
homeowners seeking solutions to their woes. The simple fact is conservative
and prudent management policies kept credit unions out of the subprime
mortgage mess.

What's even more important in these uncertain times is that credit union
mortgage loans are as good as or better than what's being offered by banks.
With millions of homeowners falling into foreclosure, and millions of others
not sure exactly what to do or whom to trust, many people believe the mortgage
industry is at fault. So what's it going to take for the public to start
showing some respect to the credit union mortgage industry?

With all the talk of the mortgage crisis, home loan applications are up,
interest rates are still low, and housing finance continues and that's where
credit unions come in.

Many foreclosure victims were duped into bad loans by unethical mortgage
brokers, but how many of those originated at credit unions? We know that
number would have to be tiny. In fact, newly announced regulations look like
the Credit Union loan origination manual of recent years.

"Our slogan is, 'Credit union's stick to traditional credit union values, a
world where people are worth more than money'" said Bob Dorsa, President/CEO
of ACUMA. "This may be a slogan but it is also true. Even a casual study of
U.S. economic history will ascertain, a turn-around is inevitable -- and when
it comes, credit unions that skillfully managed the crisis will be in an
excellent position to prosper in the coming recovery."

For more information about Credit Union Mortgage Lending the "now recognized"
lending phenomenon, please contact bdorsa@acuma.org or call ACUMA
877-442-2862.

SOURCE American Credit Union Mortgage Association

Bob Dorsa, President/CEO of ACUMA, +1-877-442-2862