MORTGAGE LENDING OPTIONS FOR CUs AVAILABLE THROUGH RENEWED FREDDIE MAC/CUNA ALLIANCE

McLean, VA – A critical package of services to help credit unions manage their mortgage business in today's distressed credit markets will remain available through the renewed alliance agreement between CUNA and Freddie Mac (NYSE:FRE), one of the nation's largest investors in residential mortgages.

The alliance provides participating credit unions with a comprehensive set of technological services, mortgage products, and correspondent lending, such as Freddie Mac's borrower outreach initiatives.

"With the current economic climate, this renewed alliance ensures that credit unions will continue to have options to succeed in the mortgage lending market, including affordable lending solutions to meet the needs of low- to moderate-income borrowers," said Wes Millar, senior vice president of CUNA Strategic Services.

"Extending our alliance with CUNA means participating credit unions can access a full range of correspondent mortgage lending services and competitive secondary market strategies without having to add staff or re-tool their systems," said Iliana Ghanem, vice president for community lending at Freddie Mac. "Today's announcement also underscores Freddie Mac's commitment to help CUNA members meet their own members' mortgage needs."

The Freddie Mac/CUNA alliance provides:

Expanding execution and mortgage product options: cash sale advantages on a wide variety of mortgages available through Freddie Mac's Single-Family Seller/Servicer Guide;
Customized learning opportunities: assistance and training on Freddie Mac Home Possible Mortgage suite, and other low down payment mortgages designed to help low- and moderate-income borrowers; and
Technological advantages: including Freddie Mac's Loan Prospector® automated underwriting service and a Mortgagebot with Loan Prospector business-to-consumer Web site for online mortgage lending.

For more information on the CUNA/Freddie Mac alliance, call the alliance hotline at (866) 220-2074 or go to freddiemac.com/singlefamily/cuna.html. CUNA members can also contact Tom Lybeck, product manager for CUNA Strategic Services, at (800) 356-9655, ext. 4109, or go to strategicservices.cuna.org.

Credit Union National Association (CUNA) serves 90 percent of America's 8,500 credit unions, which are owned by more than 90 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. CUNA Strategic Services, Inc., owned jointly by CUNA and the state leagues, provides credit unions with access to high quality products, services, and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development. For more information, visit strategicservices.cuna.org.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than 4 million renters.

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