Union Federal rolls out home equity programs
By MortgageDaily.com staff
9/19/2005

Correspondent lenders have a new home equity lending program available.

Alt-A lender Union Federal Bank of Indianapolis is rolling out home equity products to its correspondent lenders, according to an announcement today.

Though the Fort Wayne, Ind.-based lender had previously only offered HEL programs through its broker and retail channels, a new Web-based input processing system from Guardian Mortgage Documents reportedly enabled Union Federal "to quickly produce, manage and electronically deliver home equity product documentation to its correspondent lenders with full compliance including complex state and local compliance regulations."

With the service, the Waterfield Mortgage Co. subsidiary manages document compliance while correspondents manage production and delivery.

Union Federal touts its correspondent programs at www.UnionFedWholesale.com.

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