LAS VEGAS — Executives with two credit unions that are very experienced mortgage lenders urged credit unions to appoint “housing czars” in their CUs to help build their mortgage business.
Chief lending officer for 66 FCU, Mark Wilburn, acknowledged before a breakout session at ACUMA's 15th annual conference this week that they chose the term housing czar because it was catchy.
However he also emphasized the importance of having a business development officer who knew and believed in the CU and its mission as a mortgage lender in the community.
Wilburn, who’s with a $600 million credit union is in Bartlesville, Okla., described a position that was part cheerleader, part visionary and part manager, which requires someone who almost takes on the position as avocation and not just a job.
Kathie Spurling, real estate manager at the $3.2 billion Ent FCU in Colorado Springs, Colo., agreed and discussed how important their business development staff has been keeping the CU in the middle of the community where it makes most of its mortgage loans.
Her CU has more than 40% of its purchase money loans insured from government programs from the Federal Housing Administration or Veterans Administration.
“But that's not surprising for us as we have four military bases in our field of membership,” Wilburn said.