Many mortgage companies choose to sell the servicing after closing. Sometimes it happens directly after closing and other times it happens multiple times after the loan has closed. This often causes confusion for the borrower. They receive multiple notices stating their loan has been sold and when they have questions, they can become confused and […]
Did TRID kill consumer satisfaction?
TRID implementation made many changes for all lenders complicating the mortgage process. Let’s be real – TRID implementation was painful. However, TRID had a positive impact on borrower satisfaction and post-TRID borrowers are much more likely to have been contacted prior to closing, according to Garth Graham, Senior Partner with the STRATMOR Group. Their recent poling […]
Welcome
Welcome to CU Members Matters, the blog and newsroom for all things relating to credit union mortgage lending and CU Members Mortgage. We’ve been lending with credit unions since 1982 and our parent company Colonial Savings has been lending since 1952 – let’s just say we have decades and decades of expertise under our roof […]
Replace the Disappearing Refinance
In the Last few months, we’ve had several credit unions tell us they want to promote refinances to bring those numbers up. We understand the thought process here. When numbers on a specific product are down, you promote those products to bring them back up. Sounds simple enough. However, when it comes to mortgage lending, you […]
Offering VA Home Loans Through Your Credit Union
If you provide VA home loans, you know what a valuable product it is to provide to your members. Its special terms are reason enough to entice borrowers, but for credit unions offering this product it’s more than just more loans for the books. It’s a way to provide for the men and women that have […]