Mortgage CUSOs help credit unions be ‘full service,’ Part 2

Ways four through six, of six: monitoring what's hot in housing, helping members know you exist and promoting a shift from refis to purchase loans.

April 11, 2017 by Karen Bankston, CU Management

Bob Dorsa thinks helping consumers through the mortgage process offers many more opportunities to build that financial relationship than helping them through the indirect lending process.

Dorsa, president of the American Credit Union Mortgage Association, Las Vegas, Nev., says many credit unions have tapped into indirect lending as a way to enhance revenue, even as they acknowledge how hard it can be to cross-sell additional products to indirect borrowers. In comparison, the conversations that occur during mortgage processing and underwriting provide a ready foundation to introduce new members to the full range of credit union products and services.

CUSO executives offered three additional ideas on how organizations like theirs can help credit unions be full service.