Top 10 Questions About Mortgage Subservicing

As a mortgage lender, your credit union has a lot on its plate from deal sourcing, new loan boarding and escrow administration to monthly billing and payment processing. There is, however, the option to outsource these and other mortgage servicing activities to a skilled subservicer. By taking these operations outside of your credit union you can free up valuable time and resources and instantly gain access to a broad range of mortgage experts, opening doors to take on a wider range of mortgage products and ultimately serve your members better.

Sounds pretty good at first glance, but we wanted all the facts. For a credit union that has never done any outsourcing of mortgage servicing, what are the key issues to consider in order to figure out whether it might be a good fit?

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Facebook Tips and Tricks for Loan Officers

As an original Facebooker, (you know, when it was strictly for college students posting where the best party is that weekend and complaining about the crazy professor that doesn’t give out any grades except C’s), I’ve always been a little skeptical of mixing my personal Facebook world with business. Steve Richman of Genworth Financial has convinced me otherwise in a recent webcast about how loan officers can use Facebook (yes, their personal Facebook account) as a tool to deepen business relationships and drive more business.

1.)    Use your profile info to advertise (subtly)

Much like asking your doctor friend what this weird bump is, or calling your veterinarian aunt about Fluffy’s latest strange behavior, posting your profession on Facebook is like offering free expertise to your friends and family. Eventually your free consulting leads your network of friends to turn to you when something big happens. Where some small, free advice just won’t suffice. And voila – new business from (Facebook) friends. This is what you do:

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Six free market analysis tools for loan officers

Steve Richman is the national spokesperson for Genworth Mortgage Insurance and a sales trainer of loan officers. When he says sales trainer, he means it – Steve has taught over 50,000 lending executives.

Steve recently visited our offices at NAFCU to tape a series of educational webcasts specifically for credit unions. (And we really hope he speaks at our Strategic Growth Conference next year.) 🙂

The primary focus of Steve’s work is aimed at helping credit unions across the country increase their lending activity. In this first webcast of a four-part “Planning for a Purchase Market” series with NAFCU Services, he describes six free online market analysis tools and how best to use them.

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