Thin margins have credit unions looking for any opportunity to save money and create efficiencies of scale.
One way to do both is with mortgage subservicing, which allows credit unions to outsource all facets of loan administration and compliance, says Peter Sorce, president/CEO of Midwest Loan Services.
Mortgage subservicing gives credit unions “the opportunity to save money yet ensure that members are treated just as well as you would treat them,” Sorce says.
In this episode of the CUNA News Podcast, sponsored by Midwest Loan Services, Sorce explains what mortgage subservicing is and how it can benefit credit unions, what to look for in a subservicer, regulatory challenges related to mortgages, and factors affecting next year’s mortgage lending outlook.
Credit Union Magazine’s Fall 2023 issue examines how artificial intelligence is shaping marketing, strategies to improve cyber hygiene and overall cybersecurity, the need to employ risk management to address inflation and its impacts, new approaches to board recruiting, and NCUA’s top supervisory priorities.
