canstockphoto18258098There was a great article the other day on’s online magazine. – Buyers Stuck on Down Payment Confusion. You can read it here.

The article is based on the results of their Housing Opportunities and Market Expansion (HOME) Survey in which 2,700 Americans responded. About 1/3 of the respondents across various groups, felt they needed 20% down to buy a home.

So are your members / borrowers confused? Possibly?

What are you doing about it?  Hopefully something.

Here’s some are 10 ideas…………

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Should These Things Be Mixed?

I was in Walmart the other night getting supplies for a sick kid, when I walked by this.


It’s a combination charcoal and gas grill. I stopped and stared at it. Seems to me like these two things don’t fit together. Let’s see. Start the gas grill which means opening up the propane gas valve. I believe that’s highly flammable. And then put down a bunch of charcoal brickets on the other side, put some lighter fluid on it (also highly flammable) and light a match.

Now, we as Americans love to grill, but we also do we really to combine these two things? I can see the lawsuits coming…..How did that get past the risk people and the attorneys at the grill manufacturer?

What the heck does this have to do with mortgage lending?

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Why the Slow Down?

This past weekend, we had a two hour drive to get to my son’s cross country meet. It was an early Saturday morning drive on Labor Day weekend. I was driving my typical nearly 10 over the speed limit and my wife kept thankfully pointing out the state highway patrol cars I was approaching so I could SLOW DOWN to not get a ticket.

So while it was to my benefit to SLOW DOWN, the SLOW DOWN that Credit Unions are seeing in the market share is certainly not memberlicious.


The data in the chart is derived from Callahan & Associates’ Quarterly Trendwatch and data from the Mortgage Bankers Association. My interpretation of the data shows some troubling signs.

Now some may say that the Credit Union mortgage lending is as strong as ever. We originated $35.6 billion in the second quarter. That’s tied for the highest on record! It’s a 36%growth over the past quarter and up 2% from the prior year. So why am I concerned?

Well here’s a few points………….

  • Q2 2016 was the fourth highest quarter in originations. Overall, over $510 billion in mortgages were originated.
  • Non-credit unions grew their lending 46% from the prior quarter.
  • Non-credit unions grew their lending 11% year-over-year.
  • Our quarterly market share fell to 7.0%. The lowest since Q2 of 2013.
  • Since our peak at 9.5% quarterly market share in Q4 of 2014, we’ve lost 2.5%.

Now I am not trying to be an alarmist, but the trends are moving the wrong way.

So what’s causing this? I wish I knew.

Any thoughts?

You Need More Letters in Your Mortgage Alphabet

alphabetMost Credit Unions offer mortgage loans with a hefty alphabet –  DTI, LTV, PMI, FNMA, FHFA, GSE and lots of other letter abbreviations. But there seems to be a shortage of Credit Unions that use some of the most important letters in mortgage lending –  FHA, VA and USDA RD.

These are important products to help more members with home ownership. And they are getting a bigger part of the pie. How big a piece and how important are these products?

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You Gotta Get to the Closing

Source: Stratmor Group Aug 16th Insight Report

Source: Stratmor Group Aug 16th Insight Report

A recent survey by the Stratmor Group provided some interesting information on the value of having the loan originator attend the closing. You can read a summary here….

Based on the study’s findings, this certainly appears to be a memberlicious behavior that originators should seriously consider. How so? Read on….

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