Costco ends mortgage program membership perk

Posted 52 days ago

From WWW.FOXBUSINESS.COM

Costco is no longer offering a mortgage program for its members.

According to the wholesale retailer, the changes took effect on Sunday, May 1.

"Members with questions regarding their current mortgage application and loan should contact the lender they have been working with," the company wrote, adding a list of lenders and phone numbers.

Costco was affiliated with eight lenders, including Box Home Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius and Strong Home Mortgage.

A request for comment from Costco was not immediately returned.

Costco was not a lender and did not have a direct role in the mortgage process, according to Eat This, Not That!, but offered a cap on lender fees linked to the loan transaction.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Another big-box store, Walmart, struck a deal with Lenders One Cooperative in March.

L... (Read more)