Midnight in CU Mortgage Lending (Credit Union Conference Presentation Slides)

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These are presentation slides from 2012 NAFCU Annual Conference. For the recorded presentation, visit: www.nafcu.org/primealliance

Midnight in CU
Mortgage Lending
Dan Green, EVP, Marketing

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved

The
Old
Days
were
Be/er

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 2

Perhaps
True
in
Paris

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 3

But
in
Mortgage
Lending?

Really?

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 4

Mortgage

Lending

in
the
60s

and
70s

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 5

Mortgage

Lending
in

the
80s

and
90s

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 6

Mortgage

lending
in

the
early

2000s

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 7

The
best

Cme
to
be

a
mortgage

lender
is

NOW!

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 8

5

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 9

“The
Best
Investment
a

Credit
Union
Can
Make
is
a
Loan
to
a
Member.”

~
Richard
W.
Ayres
Founding
CEO,
US
Central
CU

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 10

Opportunity

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 11

30-‐24-‐16

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 12

205

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 13

Housing
Aﬀordability
at
Record
High Housing
Aﬀordability
Index
January
1981
to
October
2011
200
180
160
140
120
100
80
60
1985

1990

1995

2000

2005

2010

Source:
Na+onal
Associa+on
of
Realtors

mjperry.blogspot.com

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 14

Owning

More
Mortgage
Payments
Have
Become

A/racCve
More
Aﬀordable
RelaCve
to
Rents
than
Monthly
Housing
Costs
(2011
dollars)
RenCng
Mortgage
Payment

Gross
Rent

2,000
1,750
1,500
1,250
1,000
750
500
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Notes:
Monthly
mortgage
payments
are
based
on
the
median
exis+ng
home
price
from
the
Na+onal
Associa+on
of
Realtors®
and
assume
a
20-‐percent
downpayment

and
a
30-‐year
ﬁxed-‐rate
mortgage
at
the
average
rate
for
the
quarter
reported
by
Freddie
Mac.

The
monthly
gross
rent
is
the
median
gross
rent
from
the
2010

American
Community
Survey
indexed
to
the
Consumer
Price
Index
for
Rent
of
Primary
Residence.
Both
series
are
adjusted
for
inﬂa+on
using
the
CPI-‐U
for
All
items.

Sources:
JCHS
tabula+ons
of
Freddie
Mac,
Primary
Mortgage
Market
Survey;
Na+onal
Associa+on
of
Realtors®;
US
Census
Bureau,
2010
American
Community
Survey;

and
US
Bureau
of
Economic
Analysis,
Consumer
Price
indexes.

Source:
Joint
Center
for
Housing
Studies
of
Harvard
University

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 15

Homes

are

Aﬀordable... Home
Ownership
Rate
70.00%
69.00%
68.00%
67.00%
66.00%
65.00%
64.00%
...Home
ownership

63.00% rates
are

62.00% declining.
61.00%
1994

1996

1998

2000

2002

2004

2006

2008

2010

Source:
Joint
Center
for
Housing
Studies
of
Harvard
University

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 16

HARP

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 17

Why
It’s

SAFE
to

parCcipate
in

HARP

Rep
and
GSE

Warrant
Relief AVMs

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 18

The
Last

Reﬁnance

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 19

The

Media

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 20

the
POWER
of
Social

Media

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 21

It's
Our

Game
On

Our
Playing

Field

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 22

“Mone
y.
It's
a
Grab
th
gas.

at
cash
both
h
with

ands
a
a
stash nd
mak
.” e

~
Pink

Floyd

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 23

Why
do
we

have
to

talk
about

Money?

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 24

3

Servicing

Release

Premiums

2 4

Sale
Interest

Proceeds Income
1

Fees

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 25

20%

30%
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 26

People
Need
Us
Opportunity
Knocks

The
Media
Love
Us
It’s
Our
Game

Money

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 27

Block
&
Tackle

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved 28

Midnight in CU
Mortgage Lending Thank
You!
Dan Green, EVP, Marketing

© 2012 Prime Alliance Solutions, Inc. All Rights Reserved

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Midnight in CU Mortgage Lending (Credit Union Conference Presentation Slides)

14. Housing Aﬀordability at Record High Housing Aﬀordability Index January 1981 to October 2011 200 180 160 140 120 100 80 60 1985 1990 1995 2000 2005 2010 Source: Na+onal Associa+on of Realtors mjperry.blogspot.com © 2012 Prime Alliance Solutions, Inc. All Rights Reserved 14

15. Owning More Mortgage Payments Have Become A/racCve More Affordable RelaCve to Rents than Monthly Housing Costs (2011 dollars) RenCng Mortgage Payment Gross Rent 2,000 1,750 1,500 1,250 1,000 750 500 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Notes: Monthly mortgage payments are based on the median exis+ng home price from the Na+onal Associa+on of Realtors® and assume a 20-‐percent downpayment and a 30-‐year fixed-‐rate mortgage at the average rate for the quarter reported by Freddie Mac. The monthly gross rent is the median gross rent from the 2010 American Community Survey indexed to the Consumer Price Index for Rent of Primary Residence. Both series are adjusted for infla+on using the CPI-‐U for All items. Sources: JCHS tabula+ons of Freddie Mac, Primary Mortgage Market Survey; Na+onal Associa+on of Realtors®; US Census Bureau, 2010 American Community Survey; and US Bureau of Economic Analysis, Consumer Price indexes. Source: Joint Center for Housing Studies of Harvard University © 2012 Prime Alliance Solutions, Inc. All Rights Reserved 15

16. Homes are Aﬀordable... Home Ownership Rate 70.00% 69.00% 68.00% 67.00% 66.00% 65.00% 64.00% ...Home ownership 63.00% rates are 62.00% declining. 61.00% 1994 1996 1998 2000 2002 2004 2006 2008 2010 Source: Joint Center for Housing Studies of Harvard University © 2012 Prime Alliance Solutions, Inc. All Rights Reserved 16

29.

Midnight in CU Mortgage Lending (Credit Union Conference Presentation Slides)

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Midnight in CU Mortgage Lending (Credit Union Conference Presentation Slides)