June 9, 2014


Comments

 
 
 
  • This article mentions some terrific strategies that credit unions can employ for attracting new mortgage business. One strategy that wasn’t mentioned is partnering with a credit union services organization (CUSO) that provides a full range of real estate services. Many credit unions are finding success in driving mortgage penetration within their membership by offering these services, which generally include online access to search for homes, research demographic and neighborhood trends, view recent sales data and find a trusted agent. Some programs even provide members a rebate at closing, of course subject to state regulations. These programs are effective because they engage members early in the home buying process, well before the financing stage and well before an agent or other transaction stakeholder can steer the financing business across the street. By helping members find the right home and the right agent, a credit union stands to earn a substantial larger portion of their members financing business. CU Realty Services (www.curealty.com) is one such CUSO, presently working with 100’s of credit unions nationwide. Our partners have experienced impressive purchase mortgage growth with our program, HomeAdvantage…by as much as 40%.
    Tandy Vincent
     
     
     
  • An example for all credit unions.
    Anonymous
     
     
     
  • Many CUs and Mortgage CUSOs already realize they have great opportunities and advantages with borrowers. Educate your member/borrowers, you ARE their "Trusted Adviser"
    Bob Dorsa
     
     
     
 
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