Thinking for the Future – How Credit Unions Can Create a Strong Mortgage Pipeline in the Midst of Today’s Hot Refi Market



Is your credit union equipped to thrive after the pending refi bubble burst? Implementing scientifically-proven marketing strategies can allow CUs to win their members’ loan business. It can also enable them to build a sustainable mortgage pipeline for years to come. These four steps will have you flourishing in no time.

Real estate is hotter than ever. Both purchase mortgages and refinance activity are on the rise, and credit unions are firing on all cylinders to keep up with the pace. But how do you balance your efforts in the “now” without losing sight of a healthy mortgage pipeline for “later”? I’ve encountered a great many CU executives whose hands are so full with refis that they find it all but impossible to focus on a plan that keeps their purchase mortgage pipeline – arguably the more valuable of the two – long and strong. It’s difficult enough to see beyond next week, much less next month or, even more importantly, six months from now.

This is a critical misstep for two reasons. First, refis won’t keep CUs busy forever. While there has been a slight increase in refinance loans due to lower interest rates, this rise is not expected to hold. The larger trend, as measured by Mortgage Bankers Association, shows that refi loans have dropped dramatically since mid-2013. And this trend is not expected to change.

Secondly, while the refi purchase path is fairly quick and succinct, the journey of a homebuyer is quite lengthy and task-driven. Failing to engage with homebuyers early in the process means they are less likely to be in your pipeline later when they are ready to find a mortgage.

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