A Solid Quarter in Market Share Leads to an Inflection Point

I’m a bit behind sharing my assessment of Credit Unions’ first quarter market share activity. We originated $26.2 billion in home loans for members. This was on par with the prior quarter so it’s good to see some consistency.

But how did Credit Unions compare to others in the market.

What did we get in terms of market share?

Read on…..

Continue reading

How Do You Educate Your Borrowers (and Potential Borrowers)

Last week, I mentioned the Goldman Sachs Housing Finance Conference. One of the takeaways from the event according to the May 2015 issue of HousingWire was “The Importance of Borrower Education”. More specifically the article included with this thought….”As consumers ask for an easier mortgage process, the industry is grappling with the larger question of how to combined technology with live human advisers to improve borrower education and help consumers make a truly informed decision.

What a great topic for Credit Unions wanting to be memberlicious to consider….

Continue reading

So How Do You Get Educated?

education-548105_640I read a recent article in Housing Wire’s May 2015 print issue about the Goldman Sach’s Housing Finance Conference. It was held in March and according to my limited research, this is appearantly a big event. Lots of economic stuff, speeches by the FHFA Director Mel Watt and other industry big wigs. Perhaps Credit Uniosn should pay attention to it in an effort to be more memberlicious. We, as Credit Unions, too often seem to stick with our own to get mortgage udpates and education.

And that’s a problem…..

Continue reading

Small Loans Could Be Big Business

Small HouseA recent article in National Mortgage News (May 18, 2015) provided information from Zillow that said “Smaller Loans Cost Borrowers More”. Fewer lenders want to make smaller loans because there is less profit in them. And the article goes onto to state that since there is less competition for these loans, lenders charge higher interest rates. The article indicated that Zillow research showed that for loans less than $100,000 a borrower will pay 10% more for every dollar borrowed than a borrower with a $400,000 loan.

Sounds like an opportunity to be memberlicious! Read on!

Continue reading

Why Aren’t You on the List – Top 200 Mortgage Originators

Last month, Origination News released its list of Top 200 Mortgage Originators for 2014. You can find the list here…..

The list is generated each year through a survey and so you can only be on the list if you take the time to complete the list. Unfortunately not many Credit Union folks either pay attention to this or bother to do so. There are 12 originators from 4 different Credit Unions on the list. Congratulations to these 12 and to their Credit Unions (ENT Federal CU, UW Credit Union, Elevations CU and Wright-Patt Credit Union) to have the foresight to see this as important.

Why is this somewhat blatant self-promotion important? Read on……….

Continue reading