The 3 (or more) Things You Must Know About Mortgage Lending
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Transcript of The 3 (or more) Things You Must Know About Mortgage Lending
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The Three Things You Must Know About Mortgage Lending
Presented by Nizar Hashlamon, Prime Alliance Solu2ons, Inc.
Many
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I. Quick Review & Look Back.
II. Why Home Lending? Why Now?
III. THREE THINGS you ought to know.
IV. Where Will CUs Play?
Outline
Copyright © 2011 Prime Alliance Solu?ons
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What Does Ancient History Tell Us?
We became Mortgage LendersWe refinanced more mortgages than we financed homes.
refinance
<
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1978
FCUs granted
Long-‐termauthority
1998
Not much happened
Last RefiBoomof theCentury
1999
Refi Hangover / dot-‐comboom leads to
innova?on
1994
DU Created
2001
Prime AllianceBorn
2007
Housing BubbleBursts
2011
Unbridled Innova?on
BrightFuture
DarkTimes
A Brief History of CU Mortgage Lending
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OriginaIons and Secondary Mkt Sales
Source: Callahan’s Peer to Peer So2ware
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The 2%Decade
1996 2000 2004 2008 2012 2016
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
The SubprimeCrisis
Shared AspiraIon
In Crisis, Opportunity
Source: CU Housing RoundTable
5.4%
Two to Ten
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A Really Brief Synopsis of the PastThree Years
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Members flocked to their CUs...for refinance
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The General Public Discovered CUs...for Refinance
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CU Balance Sheet2010
!"#
$$"#
%&"#
'("#
######)*+,-.#)/*,#01/23#
######4+/5#63./.+#01/23#
######78.1#01/23#
9.:+*#01/23#
Credit Cards Loans $36.05
Real Estate Loans $310.70
Auto Loans $164.27
Other Loans $54.81
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!
CU Mortgage Assets Out-‐Perform
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Through Real Estate Lending...
...we become relevant in our member’s lives
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Our Only OpIon: Earn Our Way Out!
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Through Real Estate Lending...
...we enable our CU to thrive
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1978
CUs RefinancedWe made Mortgages
19991989 2007 2020
Three Stages of Credit Union Lending EvoluIon
2009
CUs Refinanced Mortgages and Financed Homes
CUs Become Home Lenders
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Five Major Shi_s
Why Home Lending? Why Now?
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#1 Member Demographics
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#2 Consumers Seek Trusted Lenders
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# 3 Homes ARE very affordable
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#4 Mortgage Brokers Out -‐ Retail In
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#5 We Need Revenue, Revenue, Revenue
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...or THREE THINGS you ought to know.
Everything you always wanted to know about mortgage lending...
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Mortgages are More Flexible
1
Service
RelaIonship
PurposeProducts
Investment
Trust
Term
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2
Mortgages are More VersaIle
Two assets in one
and many more!
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Mortgages are More AeracIve
3 What beeer service?What beeer investment?
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The Market is different because...
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This isn’t your father’s mortgage market.
The Market’s Changed...and Changing. We Must Change.
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...GSE reform is inevitable.
The Market is different because...
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Everything OLD is NEW
Again!
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Where Will CUs Play?
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Understand, Embrace and Live...
Geing Organized12-‐18 months
Shop & Buy3-‐6 months
Finance1-‐3 months
Enjoy Your Home3-‐30 Years
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Geing OrganizedThe HOME Event:
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Geing OrganizedThe HOME Event:
What Members Do:
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Research: Neighborhoods, Schools, Home Values and Home Types
Learn: About buying, financing and owning a home
Get Budgets/Finances in Order
Geing OrganizedThe HOME Event:
What Members Do:
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Research: Neighborhoods, Schools, Home Values and Home Types
Learn: About buying, financing and owning a home
Get Budgets/Finances in Order
Geing OrganizedThe HOME Event:
What Members Do:
What We Should Do:
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Research: Neighborhoods, Schools, Home Values and Home Types
Learn: About buying, financing and owning a home
Get Budgets/Finances in Order
Geing OrganizedThe HOME Event:
What Members Do:
Help with budgeIng and Financing
AdverIse...AdverIse...AdverIse
Educate: Home Buying/Owning Seminars and Web-‐based tools
What We Should Do:
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Shopping & BuyingThe HOME Event:
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Shopping & BuyingThe HOME Event:
What Members Do:
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Shopping & BuyingThe HOME Event:
Meet and Pair-‐up with Realtors
Search Online for Homes
What Members Do:
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Shopping & BuyingThe HOME Event:
Meet and Pair-‐up with Realtors
Search Online for Homes
What Members Do:
What We Should Do:
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Form Mutually Beneficial Realtor RelaIonships
Provide Online Tools to help members shop
Shopping & BuyingThe HOME Event:
Meet and Pair-‐up with Realtors
Search Online for Homes
What Members Do:
What We Should Do:
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FinancingThe HOME Event:
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FinancingThe HOME Event:
What Members Do:
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FinancingThe HOME Event:
Choose Their Financing OpIons
Stress/Anxiety/Freak Out!!
Choose a Lender
What Members Do:
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FinancingThe HOME Event:
Choose Their Financing OpIons
Stress/Anxiety/Freak Out!!
Choose a Lender
What Members Do:
What We Should Do:
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FinancingThe HOME Event:
Choose Their Financing OpIons
Stress/Anxiety/Freak Out!!
Choose a Lender
What Members Do:
Campaign for Business
AdverIse...AdverIse...AdverIse
Fill the White Space: Products, Market Niches
What We Should Do:
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Living the American DreamThe HOME Event:
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Living the American DreamThe HOME Event:
What Members Do:
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Living the American DreamThe HOME Event:
What Members Do:
Remodel
Re-‐landscape
Redecorate
Grow Their Families
Create Financial Plans
Purchase, Purchase, Purchase
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Living the American DreamThe HOME Event:
What Members Do:
What We Should Do:
Remodel
Re-‐landscape
Redecorate
Grow Their Families
Create Financial Plans
Purchase, Purchase, Purchase
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Living the American DreamThe HOME Event:
What Members Do:
What We Should Do:
Remodel
Re-‐landscape
Redecorate
Grow Their Families
Create Financial Plans
Purchase, Purchase, Purchase
Closely Monitor Servicing PormoliosPredicIve AnalyIcs
Help Create Financial Plans
Fill the Financial Service Needs
Consistent MarkeIng Reminders
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Mortgage Lending IS a core credit union strategy
Copyright © 2011 Prime Alliance Solu?ons
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The Take Aways
Know Your History
Commit to the Big Goal
There’s Three Things You Ought to know about
Mortgage Lending
Home Lending is THE Strategy
for CUs
[ We Thrive As We Become Home Lenders ]
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Thank you!
Nizar HashlamonPrime Alliance Solutions
Copyright © 2011 Prime Alliance Solu?ons