Union Plus® Mortgage Program

Since 1996, Chase has been the EXCLUSIVE lender for the Union Plus® Mortgage Program offered by Union Privilege (UP), the benefits arm of the AFL-CIO. This opportunity to provide home financing to members of labor unions makes it Home Lending’s largest affinity relationship. The potential audience for the program includes more than 13 million union members, their parents and children.

The Union Plus Mortgage Program offers unique value and benefits including:

• Closing-cost savings – No application fee is collected (appraisal fee only, collected upfront) – Maximum of $100 in revenue charges (underwriting, processing)

• Mortgage Assistance – Interest-free payment assistance loans to cover up to six mortgage payments (up to $15,000) in the event of involuntary unemployment, disability, strike or lockout (mortgage must be one year old and owner occupied; not available for investment properties or home equity loans)

• Servicing is retained – Proper coding is required

• Parents and children of union members are eligible

More than 120,000 union members and eligible family members have taken advantage of the Union Plus Mortgage Program since its inception. In 2010, Chase funded $4.4 billion in first mortgages, and UP dispensed $1.6 million in payment assistance loans to Union Plus Mortgage Program holders who have had difficulty keeping up with their mortgage payments.

Currently, Chase has a team of seven union coordinators who work closely with labor councils, state federations and local leaders across the country to promote the program and educate union members about its unique value and benefits. The coordinators are available to train loan officers, present at sales meetings, attend conference calls, etc., and are your resource and liaison to the labor community. Unions are unlike any other affinity group – they are extremely loyal in supporting union-made and union-endorsed products and programs. We have a tremendous opportunity at Chase as the sole lender, the responsibility to make each union member aware of the program and the contractual obligation to deliver exceptional service.

For more information on this program, contact Teresa Butler at 614-565-8161 or Teresa@TeresaButler.com

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