The constantly shifting mortgage environment and stringent mortgage regulations have created an increasing need among credit unions to start outsourcing mortgage underwriting.
In 2019, credit unions are more likely to face more challenges. On one end, there are rising mortgage rates that are combined with higher home prices (shrinking profits) while on the other end, credit unions have to bear the brunt of financial regulations. This combination leads to delays and backlogs. To get ahead of these two challenges, credit unions require an alternative business model. Something that helps them minimize their operational costs to a minimum while ensuring optimum efficiency levels of important processes like mortgage underwriting. Outsourcing mortgage underwriting can assist leading mortgage players to meet their needs, without facing delays or backlogs.
