At the height of the COVID-19 pandemic, more than four million homeowners—credit union members among them—needed mortgage assistance. While many have recovered, there is still a need to support homeowners as they come out of forbearance.
Helping homeowners depends on exceptional member care and communication. It also means considering what other support can be offered and what process changes can be made to deliver optimal outcomes.
This episode of the CUNA News Podcast features Lori Pinto, senior vice president of business development at Cenlar, the mortgage subservicing partner to CU Servnet, a CUNA associate business member at the associate level.
CU Servnet shares the same goals as credit unions and regulators, according to Pinto. This includes helping homeowners stay in their homes and avoid foreclosure. In this episode, Pinto also explores mortgage and homeownership trends to expect in 2022.
In this episode:
1:46: Homeownership at the height of the pandemic
4:07: Regulation and forbearance
5:47: The current environment for homeowners
7:23: How credit unions can help now
10:30: Opportunities to increase support
12:35: Benefits of keeping members in their homes
14:09: Effects on the economy and housing market
14:59: Mortgages and homeownership in 2022
16:32: Credit unions should prepare now