Is the CFPB Being Memberlicous?

Last week, the CFPB released a new set of tools called “Owning a Home”. According to their announcement email, “We (the CFPB) developed these tools with the goal of helping homebuyers and homeowners like you feel more confident, become more informed, and make smarter decisions about mortgages.” Based on the some industry reaction, you would have thought the CFPB said it’s bad for people to be home owners and ever have any debt.

Me? I think the tool approaches being memberlicious – a mortgage experience that is highly pleasing to your members’ senses.

You can find the tool at here and decide for yourself….but here’s what the tool does and what some biased concerns are….

Continue reading

Now We’ve Hit the Big Time!

Wow! Is about all I can say. Did you see the Forbes Magazine ran an article titled “Homebuyers Finding A Home At Credit Unions” yesterday? I think we’ve hit the big time because it is significant for a major media finance publication to reflect on Credit Unions. It’s shows we’ve gone from being a bit player in the mortgage market to a group that should be noticed. Some industry data suggests that Credit Unions as a whole are only over-shadowed in new origination market share by Wells Fargo. So take a few minutes and read the article here….or just read on……

Continue reading

Make a Mortgage New Year Resolution

I’m honored to get the opportunity to write for the CUES Loan Zone on a fairly regular basis. Yesterday they published my suggestions for 2015 Mortgage New Year Resolutions. Here’s the start and you can see the rest by clicking the link below.

We’re a week into 2015 and hopefully you haven’t yet broken your new year’s resolution. Most of us make admirable and worthwhile resolutions in our personal lives, such as, “I want to eat better” or “I will exercise more” or “I will endeavor to be a better spouse.” While I’m not sure many credit union folks make work-related resolutions, what would yours be if you did?

I suggest resolving to be more “memberlicious”—which means offering members a highly pleasing mortgage lending experience. Here are four ideas to help you deliver on your new year’s promise. And remember, the results of good resolutions can be measured.

Click here to go to CUES’s web site and read the rest of my thoughts……….

Back with Predictions

It’s a new year and that means everyone is giving their predictions about 2015. I took a break from blogging for most of December, tying up loose ends in the office and taking some time off. So I’m re-recharged and ready to push for Credit Unions to become more memberlicious. So here are my predictions…..

Continue reading

Let’s Go Break Some Windows

Broken_WindowLast week, the Credit Union Journal ran an online article entitled “Mortgage Window of Opportunity Could be Closing.” The article asks the question if banks start to ease their mortgage lending underwriting criteria, will Credit Unions start to see a decline in their market share.

The author correctly points out the tightness of credit standards at banks has allowed Credit Unions to gain opportunity and grow market share. There’s lots of evidence that the credit box is too tight. In fact, the GSEs recently announced they would be returning to a 97% LTV first mortgage loan in order to help more people obtain home ownership.

But after that the author misses the key points about why Credit Unions have advanced market share…..and its’ about being memberlicious. And if we keep being memberlicious and focusing on the right things, not only can we keep the window of opportunity open, we can shatter the glass.

Continue reading