On the scene at ACUMA’s National Mortgage Conference

Greetings Memberlicious Readers

So this week I’m in Las Vegas at the Annual ACUMA National Mortgage Conference with over 300 Credit Union mortgage folks and key vendors to our industry. I’ll be using the blog to post some of the key insights and conversations of the conference.

Here’s the highlights from Monday’s sessions.

– During a panel discussion, three CEOs of strong mortgage lenders talked about their future plans. Of significance was their plans to re-tool for the new era of purchase mortgages. They’re focused on adding outside originators who can work with Realtors. I also heard from several credit union leaders that they were looking to expand their sales force even in the downturn so that they could go after more mortgage volume. And the good news is that the ones I talked to are looking at full time, professional originators and not having the branch personnel also handle mortgage loans.

– One CEO talked about how his top originators generated over $8 million per month in volume and earned more than his base salary. But he was okay with that because of the revenue they generated for the Credit Union and the new relationships they gained. Some Credit Unions could learn from this.

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