Business Building Center
Path to Equity: 5 Strategies to Boost Black Homeownership
Homeownership remains a key driver of financial stability and wealth creation for American households, accounting for nearly two-thirds of their net worth. Yet, for Black Americans, it continues to be an uphill battle. The homeownership rate for Black households...
5 Financial Strategies to Empower Black Homeownership
Homeownership stands as a cornerstone of financial stability and wealth accumulation for most Americans. Yet, for Black Americans, it remains an enduring challenge. The Federal Reserve Bank of St Louis reported in Q4 2023 that the homeownership rate of Black...
Navigating the Mortgage Maze: Understanding the Different Levels of Mortgage Application Reviews
When it comes to financing the purchase of a home, the path to successfully obtaining a mortgage can seem like a maze. With terms like Full Mortgage Loan Approval, Pre-Approval, Pre-Qualification, Mortgage Ready Buyer, and even Qualified Borrower floating around,...
First-Time Homebuyer Webinars: Driving Mortgage Readiness via Technology-Driven Engagement
In December 2023, Mortgage Markets CUSO partnered with FinLocker to present a credit-focused webinar hosted by credit expert Sue Buswell, founder of SueKnowsTheScore, to identify credit union members who are prospective homebuyers and advise them on how to build...
Drive Growth in Hispanic Homeownership with a Financial Education Strategy
Hispanic homeownership is growing at a record pace despite affordability and inventory challenges across the United States. Fueled by rapidly forming households, a key precursor to homeownership, and younger homebuyers (the median age of Hispanic first-time...
Thriving in a Competitive Purchase Market: Empowering Homebuyers with a Roadmap to Mortgage Readiness
Navigating the mortgage transaction process can be an emotionally charged journey, not only for first-time homebuyers but also for seasoned homeowners. Mortgage originators often encounter challenges when working with first-time homebuyers, as the level of mortgage...
How What’s A Mortgage used social media to launch the FinLocker powered WAM Wallet to attract first-time homebuyers
Goal What's A Mortgage sought to create a mobile financial well-being app that would cater to consumers at various stages of their homeownership journey. The app had to appeal to renters who could be a few years from buying a home and help prospective homebuyers...
Understanding the Financial Habits of Future Homebuyers
The economic and housing conditions have significantly shifted home buying patterns in the past year, raising questions about the attitudes of future homebuyers towards homeownership. The National Association of REALTORS® (NAR) reported an 8% decrease in...
How to Build and Expand a Strong Referral Network
86% of originators receive referrals from past clients, according to the MGIC Loan Originators Survey Report. To expand your sales pipeline and increase business opportunities it's essential to widen your network and build strong relationships with professionals in...
Investing in Digital: How Credit Unions Can Attract Younger Members and Empower Homeownership with Digital Financial Tools
To meet consumer expections, it is crucial for credit unions to adapt and embrace digital financial tools to attract new members and better serve current members. In 2023, the average age of credit union members in the United States was 47 and only 7% of all credit...
Closing the Black Homeownership Gap with Financial Fitness Tools and Education
Homeownership is a critical component of financial stability and wealth building, but for Black Americans, achieving and sustaining homeownership has been a long-standing challenge. According to the U.S Census Bureau, the homeownership rate of White households was...
Recession Proof Ways To Expand Your Mortgage Sales Database
First-time homebuyers were the focus of 85% of originators in 2022, yet they only made 26% of home purchases. When your marketing efforts are focused on a subset of consumers who have already begun their homeownership journey, you face intense competition from...
Strategies to Boost User Adoption of New Technology
Overcome employee resistance to change and accelerate user adoption of new technology solutions with a three-phase adoption plan 70% of digital transformation programs fail due to a lack of employee engagement, inadequate management support, poor or nonexistent...