Getting “Back on Track” with Purchase Mortgages

At the beginning of the year, the market was all about refi’s. Ellie Mae reports show that in February 2015, 59% of all loans were refi’s, leaving purchase mortgages holding a minority share of 41%. Now let’s jump to August, just six months later—refinancing loans dropped to just 37% and purchase mortgages stole back the spotlight by surging up to 62%.

Micro Moments and CU Members

Google introduced us to a new term -- micro moments -- and the concept goes far beyond simple internet searches. What are they exactly and more importantly, how do they affect purchase mortgages? Read on to find out and learn how credit unions can win more micro moments that win more purchase mortgage business.

It's Hard to be Human

 In this highly digitalized world we live in, we are faced with a challenge of how to be “human,” especially in a numbers-driven industry like purchase mortgages. Here at CU Realty, we’ve seen many a credit union promote only rates with high hopes to win their members’ mortgage business, but it’s just not happening. And here’s why:

Credit Unions Well-Positioned for Mortgage Lending

Purchase mortgage business continues to make headlines in credit union publications like Credit Union Times. Our President/CEO, Mike Corn, has one simple message to the credit union community after reading two key articles. You’ll have to read on to find out what he had to say that CU Times itself thought worthy of publishing!

Affluent Millennials: Looking for More

Millennials continue to be a coveted group for credit unions to target, especially for purchase mortgages. Thanks to a recent LinkedIn and Ipsos study, we have some key insights for credit unions to consider when trying to reach this market.

Why an Established, Tried-and-True Real Estate Agent Referral Program is Too Good to Pass Up

On July 30, Wells Fargo announced that it is immediately halting its marketing services and desk rental agreements with real estate firms, builders and other mortgage referral sources. Why? Because there have been increasing concerns about a lack of oversight and questions surrounding mortgage insurance kickbacks, among other things. What can credit unions learn from this? Find out in this blog post.

CUs Continue to Take More Initiative

In a recent New York Times article, credit unions were highlighted as an increasingly popular place to go for purchase mortgages. Perhaps because credit unions are doing a better job of reaching out to their members and even to Realtors as well. But can CUs do even more to capitalize on this momentum? Find out what we think.

Boomerang Buyers: The (Nearly) Forgotten Market

In today’s market, much of the focus has been on Millennials and First Time Homebuyers. But there is another market that has been riding the coattails of the housing crisis and has been (nearly) forgotten until recently—Boomerang Buyers. These buyers’ second chance can mean your credit union’s next opportunity! Find out more.

4.4% Mortgage Penetration Means Room for Growth for CUs

Are credit unions penetrating the market when it comes to mortgages? U.S. credit unions as a whole are seeing a 4.4% mortgage penetration rate on average. For some credit unions, this may seem high, while others see it as low. But the number reveals room for growth in a big way.

PART IV: Why Real Estate Advocacy Matters for Purchase Mortgages

As recent studies reveal, homebuyers don’t know what they don’t know. And the financial industry, as a whole, is leaving the educational component in the dust, spending 25x more money trying to convince members to buy products (like mortgages) rather than teaching them about those same offerings. Credit unions and CUSOs can make a difference and close this knowledge gap through true member advocacy. Find out how.

Learn More
About CU Realty
About HomeAdvantage
For Agents & Brokers
Contact us
Call (800) 203-9014
Fax (866) 496-6984

Linked In
Subscribe to our e-newsletter
Get our latest eBook
Download a white paper
Case Studies
Press Releases
White Papers & eBooks
About CU Realty
Management Team
Privacy Policy
Terms & Conditions