The mortgage environment is continuously evolving at a rapid pace. To best keep up with the latest trends, credit union mortgage lenders need to ensure they are staying competitive while meeting member needs, market demands and market shifts, all while managing risk. While there is no crystal ball, there are areas credit union mortgage professionals should be thinking about to better prepare and compete in the evolving and competitive market.

Differentiated Data Insights

While traditional credit reports remain a strong indicator of credit history and past financial reliability, thin file, young and "unscorable" consumers may not have strong enough credit files to obtain a traditional mortgage. That can potentially change by expanding the use of various insights to capture more accurate indicators of financial strength. These insights can help open the door for U.S. consumers who may benefit from additional attributes added to their financial profile. For example, delivering telco, pay TV and utilities attributes alongside traditional credit reports can help provide additional insights on 191 million U.S consumers.