The number of home sales in the US rose unexpectedly in May 2020, exceeding both the number of homes sold in April 2020 as well as the home sales recorded during the same period last year. As most recent homebuyers purchased their homes with the help of a home loan, the home financing market looks solid in both the short and long term, despite the recent socio-economic uncertainty that has negatively affected the real estate industry. Thanks to historically low rates, credit union mortgage origination volumes have also risen, allowing credit unions to gain more market share.
Manufactured Housing News
According to CUNA, many credit unions have reported rising liquidity and lower loan origination volumes over the past few months. As this trend is expected to continue particularly due to the current government relief programs as well as a higher number of people looking for a safe place to keep their money, it could negatively affect the overall profitability of many credit unions.
The Triad Financial Services Team enjoyed their time in the Big Easy while attending NAFCU's Annual Conference. The team had the chance to get to know some of today's Credit Union leaders and learn more about the challenges they face today. During the conference, Mike, with the Studio Lounge, asked to interview Senior VP, Keith Stayer. Take a look at the interview as Keith discusses how manufactured homes are helping solve the affordable housing crisis that many homeowners are still facing today, as well as, how Triad Financial Services works with credit unions to help them grow and diversify their loan portfolio.