The 3 (or more) Things You Must Know About Mortgage Lending
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No single subject has been more in the news the past several years than mortgage lending. The root cause of the housing crisis and a major contributor to the great recession are two things you'll hear from most consumers should you mention the subject. And, while both are true, neither one of them are included in the three things you must know about mortgage lending. In this 2011 NAFCU Strategic Growth Conference presentation, Nizar Hashlamon, Vice President of Lending Solutions from Prime Alliance Solutions, Inc., and Executive Director for Prime Alliance Loan Servicing, explores the most important information in what is arguably the most powerful loan you can make for your members - a mortgage loan. Listen to the presentation at http://www.nafcu.org/primealliance.
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The 3 (or more) Things You Must Know About Mortgage Lending
- 1. M a ny The Three Things You Must Know About Mortgage Lending Presented by Nizar Hashlamon, Prime Alliance Solu2ons, Inc.
- 2. Outline I. Quick Review & Look Back. II. Why Home Lending? Why Now? III. THREE THINGS you ought to know. IV. Where Will CUs Play? Copyright © 2011 Prime Alliance Solu?ons
- 3. What Does Ancient History Tell Us? refinance We became Mortgage Lenders < We refinanced more mortgages than we financed homes.
- 4. A Brief History of CU Mortgage Lending Not much Unbridled Dark happened Innova?on Times 1978 1994 1998 1999 2001 2007 2011 Refi Housing FCUs Last Refi Hangover / Prime Alliance Bright DU Born Bubble Future granted Boom dot-‐com Bursts Created Long-‐term of the boom authority Century leads to innova?on
- 5. OriginaIons and Secondary Mkt Sales Source: Callahan’s Peer to Peer So2ware
- 6. In Crisis, Opportunity Two to Ten 12.00% Shared AspiraIon 10.00% 8.00% The 2% Decade 6.00% 5.4% 4.00% 2.00% The Subprime Crisis 0.00% 1996 2000 2004 2008 2012 2016 Source: CU Housing RoundTable
- 7. A Really Brief Synopsis of the Past Three Years
- 8. Members flocked to their CUs...for refinance
- 9. The General Public Discovered CUs...for Refinance
- 10. CU Balance Sheet 2010 '("# !"# ######)*+,-.#)/*,#01/23# Credit Cards Loans $36.05 %&"# ######4+/5#63./.+#01/23# Real Estate Loans $310.70 $$"# Auto######78.1#01/23# Loans $164.27 Other Loans 9.:+*#01/23# $54.81
- 11. CU Mortgage Assets Out-‐Perform !
- 12. Through Real Estate Lending... ...we become relevant in our member’s lives
- 13. Our Only OpIon: Earn Our Way Out!
- 14. Through Real Estate Lending... ...we enable our CU to thrive
- 15. Three Stages of Credit Union Lending EvoluIon CUs Refinanced CUs Refinanced Mortgages and CUs Become Home We made Mortgages Financed Homes Lenders 1978 1989 1999 2007 2009 2020
- 16. Why Home Lending? Why Now? Five Major Shi_s
- 18. #2 Consumers Seek Trusted Lenders
- 19. # 3 Homes ARE very affordable
- 20. #4 Mortgage Brokers Out -‐ Retail In
- 21. #5 We Need Revenue, Revenue, Revenue
- 22. Everything you always wanted to know about mortgage lending... ...or THREE THINGS you ought to know.
- 23. Mortgages are More Flexible Trust Purpose Service Products Term 1 RelaIonship Investment
- 24. Mortgages are More VersaIle Two assets in one 2 and many more!
- 25. Mortgages are More AeracIve What beeer service? 3 What beeer investment?
- 26. The Market is different because...
- 27. This isn’t your father’s mortgage market. The Market’s Changed...and Changing. We Must Change.
- 28. The Market is different because... ...GSE reform is inevitable.
- 29. Everything OLD is NEW Again!
- 30. Where Will CUs Play?
- 31. Understand, Embrace and Live... Geing Organized 12-‐18 months Finance 1-‐3 months Shop & Buy 3-‐6 months Enjoy Your Home 3-‐30 Years
- 32. The HOME Event: Geing Organized
- 33. The HOME Event: Geing Organized What Members Do:
- 34. The HOME Event: Geing Organized What Members Do: Get Budgets/Finances in Order Research: Neighborhoods, Schools, Home Values and Home Types Learn: About buying, financing and owning a home
- 35. The HOME Event: Geing Organized What Members Do: Get Budgets/Finances in Order Research: Neighborhoods, Schools, Home Values and Home Types Learn: About buying, financing and owning a home What We Should Do:
- 36. The HOME Event: Geing Organized What Members Do: Get Budgets/Finances in Order Research: Neighborhoods, Schools, Home Values and Home Types Learn: About buying, financing and owning a home What We Should Do: Educate: Home Buying/Owning Seminars and Web-‐based tools Help with budgeIng and Financing AdverIse...AdverIse...AdverIse
- 37. The HOME Event: Shopping & Buying
- 38. The HOME Event: Shopping & Buying What Members Do:
- 39. The HOME Event: Shopping & Buying What Members Do: Search Online for Homes Meet and Pair-‐up with Realtors
- 40. The HOME Event: Shopping & Buying What Members Do: Search Online for Homes Meet and Pair-‐up with Realtors What We Should Do:
- 41. The HOME Event: Shopping & Buying What Members Do: Search Online for Homes Meet and Pair-‐up with Realtors What We Should Do: Provide Online Tools to help members shop Form Mutually Beneficial Realtor RelaIonships
- 42. The HOME Event: Financing
- 43. The HOME Event: Financing What Members Do:
- 44. The HOME Event: Financing What Members Do: Choose a Lender Choose Their Financing OpIons Stress/Anxiety/Freak Out!!
- 45. The HOME Event: Financing What Members Do: Choose a Lender Choose Their Financing OpIons Stress/Anxiety/Freak Out!! What We Should Do:
- 46. The HOME Event: Financing What Members Do: Choose a Lender Choose Their Financing OpIons Stress/Anxiety/Freak Out!! What We Should Do: Fill the White Space: Products, Market Niches Campaign for Business AdverIse...AdverIse...AdverIse
- 47. The HOME Event: Living the American Dream
- 48. The HOME Event: Living the American Dream What Members Do:
- 49. The HOME Event: Living the American Dream What Members Do: Redecorate Purchase, Purchase, Purchase Remodel Grow Their Families Re-‐landscape Create Financial Plans
- 50. The HOME Event: Living the American Dream What Members Do: Redecorate Purchase, Purchase, Purchase Remodel Grow Their Families Re-‐landscape Create Financial Plans What We Should Do:
- 51. The HOME Event: Living the American Dream What Members Do: Redecorate Purchase, Purchase, Purchase Remodel Grow Their Families Re-‐landscape Create Financial Plans What We Should Do: Fill the Financial Service Needs Consistent MarkeIng Reminders Help Create Financial Plans PredicIve AnalyIcs Closely Monitor Servicing Pormolios
- 52. Mortgage Lending IS a core credit union strategy Copyright © 2011 Prime Alliance Solu?ons
- 53. The Take Aways Know Your History There’s Three Things You Ought to know about Commit to Mortgage Lending the Big Goal Home Lending is THE Strategy for CUs [ We Thrive As We Become Home Lenders ]
- 54. Thank you! Nizar Hashlamon Prime Alliance Solutions Copyright © 2011 Prime Alliance Solu?ons