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first_imgTo keep members and continue to grow, credit unions must come up with solutionsThe good news: Credit unions grabbed 8.4 percent of the mortgage lending market share at year-end 2014, a continuation of a robust CU lending trend that has been on the rise in recent years.The bad news: Home ownership rates have backed off the historic highs at the start of the 21st century and now have fallen near record lows.For credit unions, that means a recommitted effort across all asset sizes is needed to keep momentum moving in a positive direction.That’s no small challenge. But it boils down, quite simply, to two main points for credit union leaders: Recognize the crucial role real estate lending plays in meeting your members’ needs and make sure your members enjoy a positive experience securing that loan from you.Buying a home is usually the biggest investment an individual makes in a lifetime. Yet a significant percentage of credit unions don’t even have a mortgage solution for members. If they can’t get a loan from you, they will either go elsewhere (and take their other business) or fail to qualify in today’s more difficult, no nonsense regulatory environment.It’s not enough anymore for credit unions to offer car loans and checking accounts. To keep business growing, and help more of your members achieve the American dream of home ownership, you need to offer a mortgage solution.And don’t use asset size as an excuse. Even small CUs can form partnerships, using the services of a mortgage CUSO, for example. It might not be easy, but it can be done. And it must be done.But it’s not good enough to simply offer a mortgage solution. It needs to be a positive, pleasant experience for the member. The process for applying for and obtaining the loan must be transparent, efficient and understandable.It also needs to be recognizable—that is, the member should know (1) you offer mortgage loans (think marketing and cross-selling), (2) you are willing to work with them even in special circumstances and (3) you can give them an answer (Do they qualify or not?) quickly and understandably.So whether your potential borrowers fall into an underserved category (one CUs historically have helped), reside within the growing millennial segment that has balked at home ownership (and seeks to establish a relationship with a financial institution who understand them) or comes to you with a special situation, you need to have a plan. Now. 26SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bob Dorsa Bob Dorsa is the President of the ACUMA (American Credit Union Mortgage Association) a professional trade association (co-founded by Dorsa in 1996). ACUMA is one of the most unique niche … Web: www.acuma.org Detailslast_img read more

first_img“It’s just one of the milestones of many to get to where we want to be,” Davis said.“All the stuff we’ve been through this season, to clinch number one in the West means a lot but we’re not finished.”It is the 20th time this season Davis has scored 20 points or more in the first half for the side since Lakers Kobe Bryant.Bryant, who died in a helicopter crash in January,led the team to the NBA Finals crown the last time they were top seeds in 2010.“To be in a category with him means a lot,” Davis added. “I know he’s looking down on us, cheering us on.”Lakers power forward LeBron James finished with 22 points and nine assists.Monday’s NBA’s other fixtures, which are all being played in a bio-secure environment at Disney World in Orlando,saw the New Orleans Pelicans beat the Memphis Grizzlies 109-99.The Raptors, thanks heavily to a career-high 36 points from Fred VanVleet, edged past the Miami Heat 107-103 in their Eastern Conference clash.The Denver Nuggets needed overtime to beat Oklahoma City Thunder 121-113 and remain third in the Western Conference standings behind the Lakers and the Los Angeles Clippers.While the Indiana Pacers beat the Washington Wizards 111-100 to stay fifth in the Eastern Conference.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The Los Angeles Lakers have secured the top spot in the NBA’s Western Conference for the first time in 10 years after beating the Utah Jazz.Anthony Davis scored 42 points as the Lakers bounced back from defeat to the Toronto Raptorsto overcome a stubborn Jazz side 116-108 in Florida.As top seeds the Lakers will face the number eight seed in the play-offs.last_img read more