(NEXSTAR) – One of the various benefits and services enjoyed by Costco members disappeared earlier this month – the mortgage program.
From May 1, buyers can no longer add a mortgage application to their Costco list after the warehousing club announced the closure of the program.
“Members with questions regarding their current mortgage and loan application should contact the lender they worked, ”Costco said in a statement. “Please see the list of creditors and telephone numbers where you can contact them.”
While the big box store may be synonymous with toilet paper, cheap gas and mayonnaise pallets, the store offers a variety of services not available in grocery stores such as identity protection, travel planning, van sales, car and home insurance and more.
Prior to May, such services included mortgages. Costco has been linked with lenders Box Home Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius and Strong Home Mortgage.
According to Nerdwallet, Costco did not actually engage in loans. The program acted as a lending platform that allowed potential homeowners to choose their lender, and offered participants a soft loan disbursement fee.
Nexstar asked Costco about the end of the mortgage program, but received no response by the time of publication.
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