Mortgage CUSO connects members to Realtors and keeps credit unions in the purchase loop.
Credit unions and other housing finance lenders face an economic pinch as rising interest rates squash demand for refinanced mortgage loans while demand for purchase money loans still struggles to grow.
Los Angeles-area credit union has seen an uptick in purchase mortgages after teaming up with CUSO.
Real estate program aimed at making credit unions one-stop shop for members and purchase mortgages.
CU Realty Services, the housing finance CUSO that seeks to make credit union central to their members real estate purchasing experiences, announced it has signed on two more credit unions.
CU/America plans to actively promote CU Realty Services and its benefits to its credit unions, as well as others across the state.
CU Realty CEO Mike Corn said the improving housing market and growing name recognition have helped the CUSO grow its business.
White paper from CU Realty Services seeks to reassure credit unions about working with Realtors to build purchase money loan business.
For credit unions wanting to grow their purchase-mortgage portfolios, the secret is online.
Credit unions may have their best opportunity ever to boost the portion of mortgage loans that actually go to purchase homes as opposed to loans that refinance previous notes.