Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Mortgage CUSO TruHome Solutions notes growth
LENEXA, Kan. (8/3/11)--Since 2005, TruHome Solutions’ first year of operation, the credit union service organization has originated more than $1.7 billion in total mortgages for its client credit unions, servicing more than 13,000 total loans. TruHome passes on to its credit union clients 100% of the mortgage servicing fee income paid by the agencies, said Keith Varney, TruHome chief operating officer. Credit union mortgage production growth, among non-owner clients, grew 175% in 2010 over 2009. The number of TruHome partner mortgage clients originating all 12 months increased more than 100% during the same time. “TruHome provides an end-to-end outsourcing model that minimizes margin volatility, while at the same time helping to ensure long-term profitability for the credit union’s mortgage offerings,” Varney said. “It’s so volatile, credit unions can’t staff up for the ebb and flow of mortgage volume,” he added. “Plus, if they have it in-house it’s a fixed cost; with TruHome it turns into a variable cost. So, outsourcing certainly helps minimize the margin volatility, helps build a more variable cost structure, but also helps keep credit unions profitable long-term,” he added.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
10 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
13 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
13 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
15 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
15 hours ago