Managing a Mortgage CUSO in Today’s Regulatory Environment

Managing a Mortgage

CUSO in Today¡¯s

Regulatory Environment

NACUSO Annual Conference

May 10, 2012

Andrea M. Blais, CEO

? Who is Community Mortgage Funding?

? The SAFE Act and its impact on a CUSO

? How did we implement it, and what

would we do differently?

? Loan Officer Compensation

? How did it impact different business

channels?

? Lessons learned

? Where do we go from here?

Community Mortgage Funding is a CUSO

owned by two leading credit unions,

SCE FCU and Farmers Insurance Group FCU

whose combined assets total over $1.2 billion

THE

UNION MORTGAGE PARTNER

? 1999 ¨C CUSO established five credit

union roles: Role of full-service mortgage

department

? 2009 ¨C New CEO, Andrea Blais, builds a

CU-experienced management team

? 2010 ¨C New technology and

infrastructure: LOS, phone system, online

system

? 2011 ¨C Expanded to begin delivering

services to the credit union community,

such as an online Loan Servicing System.

Shareholder changes made due to

mergers and strategic decisions

? Sales Builder Track

? Strategies for Loan

Portfolio Growth

? Relationship Builder Track

? Business Builder Track

? Contract Services

? Loan Servicing

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