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More credit unions turn to CU Realty Services to help grow mortgages
SCOTSDALE, AZ (December 12, 2013) — As refinancing activity continues to wane, CU Realty Services continues to attract interest from credit unions across the country that want to increase their purchase-mortgage activity.
Among the latest to sign on with the real estate services CUSO are four of the nation’s larger credit unions: $1.7 billion Fairwinds Credit Union based in Orlando, Fla.; $1 billion Hanscom Federal Credit Union near Bedford, Mass.; $765 million Los Angeles Federal Credit Union; and $569 million National Institutes of Health Federal Credit Union based in Rockville, Md.
“We anticipated there would be a market shift from refis to purchase mortgages and wanted to stay ahead of the curve,” said Steve Silva, Vice President of Marketing for Hanscom FCU. “The CU Realty Services program is helping make that shift.”
CU Realty Services designed a turn-key program, HomeAdvantageTM, to support home-buying members with the tools they need early in their real estate decision process. By offering this service to their members, credit unions are able to transition from offering mortgage services only, and instead become their members’ First Point of Contact for their entire real estate transaction.
HomeAdvantage features include:
- MLS access for finding the right properties and neighborhoods
- Referrals to experienced Realtors approved by the credit union
- Education for home buyers and sellers
- An experienced customer service support team available seven days a week
- Cash rebates or discounts at time of closing
“Our members are savvy and will do their research, so it’s great that we can give them these options,” said Silva. “And with budgets tight, members are looking to maximize dollars, so the rebates are especially attractive.”
According to Mike Corn, CEO of CU Realty Services, participating credit unions have seen their purchase mortgage volumes grow, while receiving positive feedback from their members. “For credit unions and their members, the program meets many needs. It’s a true win-win.”
About CU Realty Services, LLC
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the CUSO has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps homebuyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a rebate. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business. For more information, call Tina Powers, (800) 203-9014, ext. 104, or visit www.curealty.com.