Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
Find out in this preview from next week's print edition how revived housing demand is driving credit union membership growth.
LAS VEGAS — Credit union executives attending the annual meeting of the American Credit Union Mortgage Association received a mixture of optimism from credit union CEOs about the future of credit union housing finance and caution from a leading economist about the overall economy and the housing market.
LAS VEGAS — CEO panel tells ACUMA attendees that credit unions have broken through on mortgage lending.
Kudos to Callahan & Associates for acknowledging credit unions’ first-quarter record 8% U.S. mortgage market share and challenging the industry to increase that share even more, as outlined in the page 3 article in the Aug. 15 issue, “Leaders Call for a Push For More CU Market Share.”
Callahan challenges industry to grow already-record 8% share to 20% by 2020; CUSO Mortgage Liquidity Solutions working on how.
Callahan & Associates is urging credit unions to push forward with housing finance programs and aim to write 20% of the nation's mortgage loans.
Keeping track of all the different financial transactions that accompany an average mortgage loan application is likely one of the significant barriers keeping more credit unions from growing their housing finance programs.
Credit unions worked hard in 2011 to continue to build their housing finance programs even as the overall housing industry continued to struggle with low home prices, high foreclosure rates and significantly tighter mortgage underwriting rules.