How does your credit union educate borrowers (and potential borrowers)?
Last week, I mentioned the Goldman Sachs Housing Finance Conference. One of the takeaways from the event according to the May 2015 issue of HousingWire was “The Importance of Borrower Education”. More specifically the article included with this thought….”As consumers ask for an easier mortgage process, the industry is grappling with the larger question of how to combined technology with live human advisers to improve borrower education and help consumers make a truly informed decision.
What a great topic for Credit Unions wanting to be memberlicious to consider….
As more and more new home buyers come from the millennial generation, more and more lenders will need to upgrade their online tools from their web application to product information to home buyer education. Credit unions pride themselves on helping improve members’ financial lives through home buyer education. We’re good at doing seminars – but the old fashioned kind. Let’s get a bunch of members in a room and have an originator, a Realtor, a title agent, etc. talk about mortgage lending and then answer questions.
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