Just as you wouldn't climb Mount Everest without the expert guidance of a Sherpa, a credit union needs expertise to build and maintain a successful mortgage portfolio. Especially now, with the many regulations that are in place in this particular corner of our business.

The problem for too many mid-sized and smaller credit unions is there is a lack of this mortgage industry talent at a reasonable price. Many of these credit unions make a valiant effort to educate and train their loan people, but the concerns over compliance and doing everything just right can be overwhelming.

This is especially true when it comes to the secondary market. Originating mortgages with an eye toward profitably selling them into the secondary market gets into an additional layer of complexity that requires not only business expertise, but intimate familiarity with the finer points of the Home Mortgage Disclosure Act, TRID (TILA-RESPA Integrated Disclosure) and the other alphabet soup of ever-evolving regulatory requirements.