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Review of the CU Housing Roundtable white paper “Appoint a Housing Czar”. (Mark Wilburn, Senior Vice President – 66 Federal Credit Union)
Presentation of Business Development Strategy of Ent Federal Credit Union (Kathie Spurling, Manager of Real Estate Production- Ent Federal Credit Union)
Presentation of Business Development Strategy of 66 Federal Credit Union (Roberta Mages Vice President Mortgage Origination – 66 Federal Credit Union)
Questions and Discussion.
Agenda for the Session
Discuss different variations of Business Development within the Housing Finance arena.
Ask a lot of questions. Identify what can be taken back and applied
to your operation. Enjoy.
Goals of the Session
“ On staff they have someone who passionately believes their credit union must play a role in housing finance. Understanding their communities, local housing dynamics and member needs are an avocation , not merely a job. They believe it, they are passionate about the topic and, just as importantly, they get their credit unions to commit to housing finance as a core strategy”.
The Need
Commit to Housing Finance as a Core Strategy.
Understand your Community’s Housing Needs.
Position your Credit Union: 1. Culturally 2. Strategically 3. Operationally Selecting the right Positioning Strategy.
The Plan
Characteristics Responsibilities
Deep understanding in the mission and philosophy of credit unions.
Create and execute annual housing plan
Passionate about members and housing
Create and build Realtor relationships
Energetic and tireless Create and build local housing & community relationships
Entrepreneurially nature Design and execute Product and Pricing strategy
Strategic thinker who can translate strategy into action
Develop and execute housing finance training plan for CU staff
Motivational leader and speaker Develop and execute housing finance education plan for members
Proven leadership abilities in housing
Integrate mortgage lending into culture
Self motivating into unchartered areas
Drive cultural change
Housing Czar aka Business Development
1. The Housing Climate in the Community2. Adapting the Credit Union’s Culture3. Key Housing Relationships4. Key Member Influencer Relationships5. Key Member Segments6. Sources of Business7. Marketing8. Production9. Originating Loans
The Annual Housing Plan
12 mortgage loan officers◦ 10 external◦ 2 internal◦ 1 assistant◦ 1 temp
8 located at main office 4 in remote centers
◦ geographically 10-60 miles from main office
Ent Mortgage Production Set Up
2010 8/31/2011Loans 1858 1299Volume $304,335,751 $216,346,324 Ave Loan Size $167,797 $166,548 Purchase Vol 34% 38%Conventional Vol 77% 68%FHA 16% 17%VA 7% 15%Conv Purch 52% 56%FHA Purch 39% 35%VA Purch 9% 9%Total Gov't Purch 48% 44%
Background Volume
Product mix is important◦ Must be in the market to support what Realtors
and first time buyers need CHFA El Paso Bond Down payment assistance programs FHA & VA = 46% purchase loan average
Business Development
Member seminars First Time Home Buyers and Construction
Lending Real estate focus week Mortgage day in the center Mortgage resource center online Servicing retained Home shows Yes, we do mortgages!
Member Education
Host Realtor CE classes Use available resources Colorado Association Realtors (CAR) annual
event Realtor Rally booth and sponsorship Quarterly newsletters to Realtor database Business Journal and Real Estate Journal
articles Sponsorships Service and communication
◦ Culture - Realtors are clients too!
Realtor and/or Builder Education
Realtor specific events Ski bus Host events fundraiser for AHA, silent
auction, giveaways Golf tournaments Texas hold em events CAR event Realtor Rally Partner with your companies for top
prospects, mi & title
Realtor Business Development
Child sites for external MLO’sNetwork!Targeted zip code mailings for new markets/new
MLO’sMortgage specific offer for Business Banking
members Mortgage $100 Pre-Approval offer Pharmacy bags promoting Ent Mortgage LendingTargeted banner ads within Online BankingBreakfast with the builder’s sponsorship Housing and Building Association executive
sponsor Website and co branding sponsorship Education sponsors for monthly HBA events
Existing and Past Marketing
A purchase rate match program A direct mail campaign to help increase
purchase loans volume Host large scale event targeting realtors Creating mini podcasts targeted toward
Realtors on “hot topics” Placement of banner ads on various MLS
websites Focus on “we’ll make it right” media and we
process and service locally
New Ideas to Try in 2012
“ An intense, caring, passionate, strategic individual who can
execute yet also understands that housing is today’s toughest
economic challenge for most members.”
Find your Housing Czar!
1 manager (underwriting and supervision) 1 assistant manger (systems and
underwriting) 2 business development officers 4 mortgage loan officers 4 processors 1 funder 1 receptionist
66 FCU Mortgage Production Set Up
Type 2010 2011 ytd
Loans 953 446
Volume 139,000,000 74,000,000
Avg Loan Size $146,855 $165,919
Purchase Money 46% 62%
Refinance Loans 45% 29%
Background Volume