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Midnight in CUMortgage LendingDan Green, EVP, Marketing
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
3
PerhapsTruein
Paris
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
8
The best Cme to be a mortgage lender is NOW!
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
“The Best Investment a Credit Union Can Makeis a Loan to a Member.”
~ Richard W. Ayres
Founding CEO, US Central CU
10© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
14
HousingAffordabilityat Record
High Housing Affordability IndexJanuary 1981 to October 2011
Source: Na+onal Associa+on of Realtors mjperry.blogspot.com
1985 1990 1995 2000 2005 2010
200
180
160
140
120
100
80
60
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
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Owning More
A/racCve than
RenCng
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
Source: Joint Center for Housing Studies of Harvard University
2,000
1,750
1,500
1,250
1,000
750
500
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.
1972
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Mortgage Payments Have Become More Affordable RelaCve to RentsMonthly Housing Costs (2011 dollars)
Mortgage Payment Gross Rent
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Homes are
Affordable...
Source: Joint Center for Housing Studies of Harvard University
Home Ownership Rate
1994 1996 1998 2000 2002 2004 2006 2008 2010
70.00%
69.00%
68.00%
67.00%
66.00%
65.00%
64.00%
63.00%
62.00%
61.00%
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
...Homeownership rates are declining.
18
Why It’s SAFE to
parCcipate in HARP
Rep and WarrantRelief
GSE AVMs
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
“Money. It's a gas. Grab that cash with both hands and make a stash.”~ Pink Floyd
23© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
4 Interest Income
25
1 Fees
2Sale
Proceeds
3 Servicing Release Premiums
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved
27
PeopleNeedUs
OpportunityKnocks
TheMediaLoveUs
It’sOurGame
Money
© 2012 Prime Alliance Solutions, Inc. All Rights Reserved