New Twists on Mortgage Pre-approval Programs
Credit unions and CUSOs in the fastest moving mortgage markets have had to think outside the box when it comes to their mortgage pre-approval programs. The limited supply of homes for sale has meant that potential buyers need flexibility in order to move quickly on the properties they like. Credit unions and CUSOs have responded with new twists, such as issuing multiple pre-approval letters for tiered amounts and extending the time periods for pre-approvals and interest rate locks. [6/24/14]