With the housing market finally starting to show sustained signs of recovery, some credit unions are venturing out into lending areas that were once stalled due to the Great Recession. The latest revival can be seen with custom construction lending.
Despite longer processing time frames and more parties involved, the loans are proving to boost mortgage portfolio revenue for some credit unions. The internal collaboration needed to close these types of loans is one example of how teamwork can help the industry have an edge over the competition, one expert explains in a guest opinion piece.
Check out this week’s in-depth look:
- First, that update on custom construction lending.
- Then, how teamwork helps credit unions compete in the mortgage market.