RIVERSIDE, Calif. --Altura Credit Union has launched AmeritEscrow, a new CUSO that ties directly to its Patrion Mortgage, LLCsubsidiary. The escrow is part of a wider philosophy of offeringproducts to satisfy the requests of Altura's member base so thatthey do not switch to another financial institution. Altura CreditUnion has assets of $821 million and 106,000 members. "We've workedto build a diversified product line that would enable us to say,'If we can't do it, than no one else can,'" explained DavidConstantino, president and COO of Patrion Mortgage, who alsooversees Amerit Escrow. "For our member base, we can take a loanorigination all the way to the point of funding. We thought that inorder to really deliver we could bring in an escrow division. Thatway not only do we have control of the service from the loanaspect, but now we can have control of the service from theinteraction with escrow." The blueprint for the first year is tooffer Patrion Mortgage volume Amerit Escrow services. While theescrow division is built the CUSO plans to seek new businessopportunities in the real estate community, Constantino said.
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