New data confirms: 78 percent of CU members using a HomeAdvantage-approved agent close their home loan with their credit union
SCOTTSDALE, Ariz., October 12, 2016—With more than one-third of home buyers choosing a mortgage lender based on their real estate agent’s recommendation, it is critical for credit unions that want to grow their purchase mortgage pipelines to develop strong relationships with local agents. HomeAdvantage,® a turnkey real estate program from CU Realty Services (the No. 1 real estate CUSO in the U.S.), connects CUs with trusted real estate agents and capitalizes on that influence.
These professionals work closely with CU members to help them navigate their homeownership journey while keeping the credit union’s mortgage program top of mind. As a result, 78 percent of members who used a HomeAdvantage agent closed their loan with their credit union.
Typically, credit unions may close a small fraction of the loan applications they receive. But when a member uses HomeAdvantage, CUs see big changes because the agent and the credit union work as a team. “HomeAdvantage is helping us stay in front of our members before they choose another lender, ultimately saving our members money and time,” said Gary Prager, director of consumer sales with Space Coast Credit Union.
About CU Realty Services, LLC
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the CUSO has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps home buyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a cash reward. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business.
CU Realty Services partners with hundreds of credit unions and mortgage CUSOs in 24 states. To learn how credit unions are becoming members’ first point of contact, visit www.curealty.com.