Credit unions face a challenging environment. Focused on people rather than profits, credit unions have fought to preserve the value and service standards that have always differentiated them from other financial institutions. Many of these other institutions have simply increased fees and reduced services in the face of the dramatic economic and regulatory challenges over the past five years. 

One area of business that presents both an opportunity and a challenge for credit unions is mortgage lending. A 2010 white paper on best practices in credit unions covered how a significant opportunity existed for credit unions in mortgage lending. The white paper stated, "Importantly, the financial crisis in America has consumers more aware of how a mortgage loan fits into their overall financial plan – building broadbased financial relationships using the mortgage as an entry point is a growing opportunity for credit unions."

One of the more important aspects of the mortgage lending function is the efficient and compliant management of the property appraisal process. However, most credit unions are still managing the appraisal process through a combination of spreadsheets and email. The inefficiencies and risks associated with such a system cannot be overstated.