Is Non-QM the Future?

Last week I wrote about the fact that we’ve now been under the new CFPB rules for 6 months and how Credit Unions should be considering making non-QM loans. The title of a recent article on the Housing Wire’s web site was “Is non-QM lending the future of housing? Lenders begin offering non-agency products.” You can read the full article here. 

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Are You on Zillow or Trulia? Your members are!

logosRecently the Housing Wire web site published an article about how Zillow and Trulia continue to set new records for web traffic. You can read the article here.  Both sites set new records in June for the amount of web traffic.

Wow that’s a lot of visitors. I played around on both sites a bit and didn’t see much from Credit Unions. There are a few handfuls advertising on the sites, but not many. Are we missing out?

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Credit Unions overtake Thrifts as Mortgage Lenders?

overtakeWhile on the road, I tried to keep up with my industry reading. This caught my attention from the June 26th email edition of Inside Mortgage Finance.

8-Year Low for Mortgage Debt; But Credit Unions Could Surpass Thrifts in Holdings

Wow. The lead story isn’t very often about Credit Union mortgage lending.

Here’s what the story said….

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A 6 Month Anniversary

Happy AnniversaryI’m back in the office after a two and a half week road trip out west. The family and I drove 5,744 miles and visited 19 states and saw great sites such as the Grand Canyon, Yellowstone, Mount Rushmore, Zion National Park (my favorite) and so much more. During the long drives across the plain states I caught up on some reading and read an article about how it has been 6 months since the QM rule went into effect.

It’s seems to somewhat of a non-issue so far. Many lenders are making non-QM loans and continuing to help borrowers. Is your Credit Union?

Here’s a story about a borrower we helped at my Credit Union where if we were only doing QM loans, we would have said no, but instead we choose to be memberlicious.

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What’s Your Mortgage WHY?

Tim Mislansky:

This was one of my most read and most commented on posts. I think it’s the most important area you need to think about in regards to your Credit Union’s mortgage lending because it will drive everything else you do. I’m back in the office next week and will start up with some new posts. As always, thanks for reading.

Originally posted on Mortgages Are Memberlicious:

golden_circle1I recently finished a good book called Start with Why by Simon Sinek. He creates a golden circle that explains how great leaders focus their organizations.  It’s a good and quick read and I highly recommend it. And if you aren’t a reader, you can view the author speaking on the subject on TED.

The premise of the book is about the Golden Circle about how companies operate. The outermost circle is the WHAT.  Every company does something. That’s the WHAT. Usually the WHATs are easy to identify. We make widgets. We sell cars. We do remodeling work. All of these are WHATs.

Next comes the HOW. The HOW is HOW your company does the WHAT. Think of it as your value proposition or competitive advantage.  HOWs are often used as selling propositions to explain HOW something is better or different. We have a low cost advantage. We have great…

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