Mortgage Strategy Matters

By Lisa Hochgraf

To be fully successful, mortgage lenders need to know where they’re headed and why, suggested Thomas Pinkowish during CUES School of Mortgage Lending in Boston.

President of REMOC Associates, Essex, Conn., Pinkowish described a four-step strategic planning process for mortgage lenders:

  1. Asess where your credit union is with mortgages.
  2. Describe the desired situation for your CU’s mortgage lending.
  3. Create a blueprint for how to get to your desired situation.
  4. Manage your mortage lending program by having a reporting mechanism, measuring results and adapting your efforts as needed.

Pinkowish also suggested some do’s and don’ts for setting mortgage lending strategy:

  • Do recognize the many big changes in your business environment, and consider how your CU might need to adapt.
  • Do be strategic–and dream a little about the big picture possibilities for your program.
  • Don’t go in trying to “fix things.”
  • Don’t go in trying to create a “to do” list.
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