Mortgage lending is a growing opportunity for credit unions to capture market share while continuing to deepen the loyalty of their valued members. One of the key tools for securing a mortgage is the appraisal, which can make or break the relationship between a credit union and its member.

Given the unique affiliation these financial institutions have with their fields of membership, credit unions have a prime opportunity to deepen these bonds through the home-valuation process. When you consider the very essence of the credit union movement–“People Helping People”– credit unions also have the ability to add to their member education efforts through the appraisal management procedure.

Members need to understand that the final loan commitment is contingent on a satisfactory appraisal. In order to streamline and improve the appraisal process, credit unions should consider three key factors.