Mortgage loans are an important part of the balance sheet for many credit unions.
- Average ROA of Utah credit unions that do mortgage lending: 0.78%
- Average ROA of Utah credit unions that don’t do mortgage lending: ROA 0.10%
- % of Utah credit unions that do mortgage lending that have a positive ROA: 94%
- % of Utah credit unions that don’t do mortgage lending that have a positive ROA: 63%
This webinar will teach you what is required to get started with mortgage lending at your credit union. Topics to be covered are:
- Take the application
- Underwrite the loan
- Create closing documents
- Sign documents with a notary
- Fund the loan once rescission time has passed
- Send the trust deed to be recorded
- Service the loan
- Retain documents
As part of the webinar, you will receive a list of potential vendors who could help you with titles, documents, disclosures and more.
Following the webinar, Heather Line will be available to visit with your credit union to outline in greater detail the compliance requirements and procedures.