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Letter: Mortgage Growth Timing Is Now

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.

By Tina Powers | Updated on September 17, 2012

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.” Indeed, with fewer lenders now offering mortgages and near-record low interest rates for consumers, it’s optimal timing for credit unions to launch or grow housing finance programs.

Like those cited in the article, I agree that today’s credit unions should more actively pursue mortgages and also believe in the benefits of working with CUSOs and other third parties to help get credit union programs off the ground. Whether they assist with underwriting, add expertise to supplement staff abilities or provide innovative marketing methods, support from credit union CUSO partners can the fill gaps in mortgage programs.

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