Find out in this preview from next week's print edition how revived housing demand is driving credit union membership growth.
LAS VEGAS — This year's conference focusing more on the marketing of housing finance programs and less on the nuts and bolts.
Executives from different parts of the credit union industry are hard at work to build credit unions’ share of the U.S. mortgage market even higher than the record 8% that credit union’s achieved in the first quarter of this year.
Getting to 8% of the U.S. mortgage market has been a long time in the making–a virtual overnight success after almost four decades of hard work by tens of thousands of truly special credit union staffers.
After 11 years as a leading mortgage CUSO, Prime Alliance has been sold to become a subsidiary of Mortgage Cadence, a mortgage technology firm with a similar approach and some credit union clients. As a subsidiary of Mortgage Cadence, the firm will no longer remain a CUSO.
Prime Alliance sale ends 11 years as CUSO, adds capital to growth and upgrades. Find out more in this preview from next week's print edition.
Credit unions that want to remain competitive in housing finance over the next decade will likely have to confront the issue of how to add technology to their mortgage loan origination systems.
For the first time ever, credit unions have originated more than 8% of U.S. mortgages originated in any given three month period, according to an analyst with Callahan and Associates.
The prospect of credit unions building a stronger housing finance industry received some good news last week when a new CUSO, Mortgage Liquidity Solutions, announced its first sale of participations in CU-originated mortgage loans.
Major mortgage lenders appear to be continuing their strategic retreat from the U.S. housing finance market, leaving credit unions with a significant opportunity that they may not be willing or able to take.