Real Estate CUSO Magnifies Service for CU Members

HomeAdvantage, the largest real estate CUSO, said on Wednesday that it is once again expanding its reach – this time to a national level.

According to a statement from the Scottsdale, Ariz.-based CUSO, it has reached a point where it can assist credit unions to secure members’ purchase mortgage business “no matter where in the United States the real estate transaction takes place” and credit union members can connect with HomeAdvantage in nearly every state and metropolitan area in the country.

“Offering a national agent network is transformative to our becoming a central provider of real estate relationships; bringing CUs, members and agents together in a way that hasn’t been possible before,” Herb Behrens, CEO of HomeAdvantage, said. “The result of this expanded reach is more leads and loans for our credit union partners and more rewards for their members.”

In June, CU Reality rebranded and renamed itself to HomeAdvantage, which serves more than 125 member credit unions around the country.

According to the CUSO, HomeAdvantage’s new national reach is particularly valuable for credit unions that lend in multiple states. “We lend in every state, and so it’s impossible to have a big presence everywhere,” Together Credit Union Vice President of Real Estate Larry Jackson said. “When a member moves across the country and we can connect them to an agent who is local in that community and certified in the HomeAdvantage network, it makes a huge difference. Not only does the program help us retain critical touchpoints throughout the buying process, but it also empowers us to retain that member’s membership – all without any heavy lifting.”

When credit union members use HomeAdvantage to buy a home, 85% of those applicants stay with the credit union for financing, according to the CUSO. Members also earn an average of $1,600 per transaction in savings through the HomeAdvantage’s cash rewards program.

The CUSO admitted, despite expansion plans being formed in 2019, that the pandemic has played a significant role in terms of how and why these expansion plans have come together in the past year.

“In this new housing environment, there has been a shift because people don’t have to live where they work anymore; they can work where they live,” David Gray, chief experience officer at HomeAdvantage, said. “Our expansion is important because we can now help credit unions secure their purchase mortgage pipeline by serving members who choose to move into areas that are outside the reach of their credit union.”

The CUSO stated in addition to developing a national agent network, HomeAdvantage is adding new states to its credit union service areas. “Establishing a strong, national agent network to help members buy or sell anywhere in the U.S. is just one part of our national strategy,”  Behrens said. “We are also opening up new markets so that we can partner with more credit unions and help more members. By the end of this year, we will have expanded into five new states – Colorado, Michigan, New York, Tennessee and Utah – and will continue this expansion into 2022.”