Tim Mislansky, a leading executive in credit union housing finance, has started a blog aimed at helping credit unions offer 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.
American Credit Union Mortgage Association and several credit unions to represent in Anaheim later this week.
There are signs credit unions have begun to organize themselves to meet their and members’ needs for temporary mortgage finance. It’s called warehouse financing.
MyCUmortgage and CU Structured Finance have formed a partnership to help make more mortgage financing available to credit union members.
Last year, 27 new credit unions joined myCUmortgage, boosting the mortgage-issuing CUSO to nearly $1 billion in volume, the CU announced.
Two credit unions with assets of less than $300 million have found that smaller size need not preclude them from having strong mortgage programs.
Members continue to turn to credit unions for mortgage and refinance opportunities as evident at myCUmortgage.