Commit to Playing a Role in Affordable Housing
24/06/08 11:25
When
the dust finally settles after the sub-prime Olympics,
we'll find ourselves right back where we were two years
ago. Affordable housing is a significant National
issue, one that's given short shrift of late given
market woes.
Practice Highly Targeted Marketing
24/06/08 06:21
It's astonishing with all that's happened to the mortgage markets in the past 12 months that members, Realtors, builders and our communities remain unaware that credit unions are some of the most stalwart lenders in the industry. It’s time to change that. Past time, in fact.
Read More...Participate in the CU Housing RoundTable
23/06/08 06:14
Ever have the feeling you are too busy doing to really, truly, deeply think about what you are and, more importantly, should be doing? Us too. This is one of the main reasons we formed the CU Housing RoundTable. Read More...
Establish 'Influencer' Relationships
19/06/08 21:54
We call this the 'Strange Bedfellow' strategy. Like Strategies Number Three and Thirteen, this, too, opens our mortgage lending cocoon to the broader world, into the primary transaction in which we hope to play a role for all members. Realtors, builders, estate planners, accountants, all influence where our members finance their homes. Precious few of them think credit union when they think mortgage. Read More...
FHA Lending, Everyone?
19/06/08 10:56
Rather than say us older, let's say us more experienced Prime Alliance Team Members remember Government Lending. Not well, mind you, it's been some time since anyone's done much of it, and we are, well, getting older. Government Lending, FHA Lending specifically, is hip, it's happening, it's big. Some industry experts put FHA volume at as much as 30% of all lending in under 18 months. You've got to get ready. Yesterday.
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Establish Community Housing Relationships
18/06/08 08:22
Strategy Number Three, Appoint a Housing Czar, emphasizes 'uncocooning' the mortgage department. Establishing community-housing relationships is a second strategy to expand our lending horizons. Read More...
Mortgage Literacy: The New Mantra
16/06/08 16:23
One of the hardest lessons learned from the subprime crisis is this: the level of mortgage literacy in this country is abysmally low. How else could otherwise intelligent people end up in inappropriate loan products they couldn't possibly afford? Read More...
Go Paperless
16/06/08 16:20
Fully electronic, completely paperless mortgage lending is here. PA lenders are some of the very few who can easily make the transition.
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Be the Expert Be The Expert
13/06/08 09:17
Members and potential members are seeking trustworthy lenders, lenders that are reliable, that provide affordable, sustainable financing. That's the definition of a credit union. Read More...
Focus On Niche Markets
12/06/08 07:37
Strategy Number Eight talks about first-time homebuyers as a core lending strategy for all credit unions. Niche Market lending is another such core strategy you should consider. Read More...
Focus On First-Time Buyers
11/06/08 07:40
First-time Buyers are a 'Two-fer' strategy: credit unions that embrace this strategy get a bonus. Here's how we figure it. Credit unions everywhere are looking for consistent, reliable sources of housing financing business. Read More...
Credit Unions to the Rescue!
09/06/08 18:45
Credit unions differ from all other lenders, there's no disputing that. We didn't participate in the subprime Olympics nor did we put members in harms way. Members were and are affected, nonetheless. So are our credit unions. We can help.
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Fine-Tune Your Lending Operation
08/06/08 16:41
Several of your Prime Alliance Team Members are car guys. We fiddle and adjust constantly so they're always running their best. We know from experience that if we leave them alone for very long performance will decrease, imperceptibly at first, then all of a sudden, noticeably. Lending operations are no different. Read More...
Fine-Tune Your Member Experience
06/06/08 08:48
Together we revolutionized the housing finance experience. Our mutual innovations turned what once took more then eight weeks into a routine, two-week, mostly paperless, process. Closing a loan has never been easier. Prime Alliance credit unions deliver the best borrowing experience in the lending industry, that much we know. Let's not get complacent. Read More...
Fine-Tune Your Product Mix
05/06/08 08:48
We're committed to cultural change, we've set our sights on a top three market position within three years. What's next? The right product mix for your members and your communities. Read More...
Appoint a Housing Czar
04/06/08 08:21
Isn't it time for every mortgage lending credit union to appoint someone whose sole responsibility it is to concentrate on all things related to housing finance? We think so. Who is this person, the ideal candidate? An intense, caring, passionate, strategic individual who can execute yet also understands that housing is today's toughest economic challenge for most members. This is who you seek. Read More...
Top Three in Three
03/06/08 09:30
The most successful lenders know their current market position. They also know their desired position. Choose yours. Prime Alliance suggests determining where you'd like to be in three years. Set interim goals for 12 months and 24 months so progress is easy to monitor on your way to your three year goal. Read More...
Make Your Culture a Housing Finance Culture.
02/06/08 20:35
It's time for Housing Finance, what we once thought of as mortgage lending, to become a dominant culture in every credit union. Becoming our member' source of affordable, sustainable, stress-free home lending is critical to their financial well-being our relationships with them, as well as for the vitality of our credit unions. Read More...