With the housing market finally starting to show sustained signsof recovery, some credit unions are venturing out into lendingareas that were once stalled due to the Great Recession. The latestrevival can be seen with custom construction lending.
Despite longer processing time frames and more parties involved,the loans are proving to boost mortgage portfolio revenue for somecredit unions. The internal collaboration needed to close thesetypes of loans is one example of how teamwork can help the industryhave an edge over the competition, one expert explains in a guestopinion piece.
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