Meet your new Best Friend: Rocket Mortgage.
Understand: I know many in the credit union universe view Rocket Mortgage as the enemy. That opinion even has been voiced on past episodes of this podcast.
Understandably, too, Rocket Mortgage – the leading US mortgage originator – has enemies. Leaders usually do.
But in this show, you will hear Sam Schey, Executive Vice President, Partnerships
Rocket Mortgage, tell exactly how Rocket Mortgage may in fact be a genuine friend to credit unions.
The Credit Union Times story tells the story: “Rocket Mortgage to Woo Small Credit Unions.”
In the show Schey indicated that the target market probably is small and mid-sized credit unions. Large credit unions with large mortgage departments probably aren’t prime Rocket Mortgage targets.
But smaller institutions – especially ones that have shrunk their mortgage activities – just may be ideal for letting Rocket Mortgage handle their mortgage process and, in return, Rocket Mortgage will pay the credit union as it writes mortgages for members.
The credit union also has the option to retain the paper.
Listen to Schey – there are many different ways to configure the Rocket Mortgage options at a credit union.
Early in the show listeners who don’t follow Big 10 football may be puzzled by the banter about the Michigan State Spartans. Schey is an alum of MSU. The backstory is the day the podcast was recorded MSU fired its football coach Mel Tucker. There’s a link in the show notes to an ESPN story that tells this sordid story.
This short interlude is left in the show because Schey – under attack – handled himself superbly.