A CUSO that helps credit unions increase their percentage of mortgages considered as “purchase money” is urging credit unions to consider housing finance less as a marketing product and more as creating a leading sales channel.

Purchase money mortgage loans are those where the buyer uses the money to actually purchase a home or other real estate, as opposed to refinancing a previously existing mortgage loan they already held.

“Credit unions should start looking at the home-buying decision cycle as a lead channel, and design a program that will enable them to capture their members' business when they are ready to begin their search – not after,” wrote CU Realty Services in a white paper titled “Making the Shift: Helping Credit Unions Establish Real Estate Services as a Core Product Offering.”

CU Realty Services is a CUSO which helps credit unions tailor their housing finance programs to attract more purchase money borrowers.

“Instead of simply making mortgage loans available, credit unions that include real estate programs among their core services are seen as full-service institutions. They are able to meet members' home-buying or selling needs from start to finish,” the CUSO argued.