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. -- Freddie Mac