Master Best Practices in Credit Union Construction Lending

ACUMA ONpoint

There are big differences between buying an existing home and building a new one. Likewise, there are similar differences in writing a mortgage loan on an existing home versus working with consumers to finance the various steps in the home-building process. According to Shannon Faries, Director of Risk Management for Land Gorilla, this is a market that credit unions can own because of their close working relationships with its members. However, there are lessons to be learned and best practices to embrace before credit unions can do the job successfully. In this podcast, Shannon shares a lifetime of experience and insights with ACUMA President Peter Benjamin that will help credit unions enter this growing market. Hint: The housing shortage won’t end anytime soon, and it's consumers who will continue to drive development. Credit unions can help.