One-stop mortgage shopping an opportunity for credit unions

first_imgby: Tandy VincentNationally recognized consumer advocate, Clark Howard, recently posted an article encouraging homebuyers to compare mortgages to ensure they get the best interest rate. Howard says “the difficulty of getting a mortgage has created a situation where people don’t even shop for a mortgage anymore. There’s no thought to even make a second phone call.”Unfortunately, Clark is right! According to the Consumer Financial Protection Bureau1 nearly half (47%) of Americans don’t shop for a mortgage. Instead, overwhelmed with the process of finding a home, they opt to talk to only one lender! It’s a financial mistake that can cost a homebuyer more than $25,000.2Credit unions can help. But how?As financial advocates, credit unions are uniquely positioned to help members make the right financial choices when it comes to financing a home. It’s kind of our thing.In service of that commitment, and in light of the CFPB findings, establishing first point of contact with home-buying members in the earliest stages of the process is where we should focus our attention. If we can get in front of buyers while they are just starting their home search and before they hire a Realtor, we’re in a prime position to become their real estate advocate and earn their mortgage business as a result. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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NEST tenders standalone emerging market bond mandate

first_imgThe mandate would initially form part of a pooled fund, but in its tender the fund said that it might transition to a segregated mandate at a later point.Fawcett added: “An active management approach can take advantage of opportunities while managing the portfolio risk by avoiding unattractive or risky borrowers.“By having an investment universe of both hard and local currency debt, the manager will have the ability to invest in the most attractive areas of the market.”The tender comes two years after NEST sought managers for a “relatively cautious” emerging market equity mandate, to which it eventually appointed Northern Trust Asset Management and HSBC Global Asset Management.Fawcett has previously told IPE the fund would be shifting from multi-asset mandates to single-asset mandates as it grows in size, as the change will allow it to exert greater control over asset allocation.It has seen its assets grow to £535m (€728m), up from £104m in April 2014.Interested managers have until 14 October to participate.Read about how NEST views smart beta in IPE’s September issue The UK’s National Employment Savings Trust (NEST) is tendering for an emerging market bond manager to further diversify its default fund.The defined contribution (DC) master trust’s CIO Mark Fawcett said emerging market bonds were increasingly finding a place within pension portfolios as they offered “attractive” yields in the prevailing low-yield environment.“We think it’s appropriate to have emerging market debt among the growing number of asset classes NEST can call on to deliver better retirement outcomes for our members,” he added.The actively managed portfolio would be allowed to seek exposure to both hard and local currency debt, and a spokesman for NEST told IPE it did not have preference for sovereign or corporate bonds, instead preferring to see what asset managers submitted.last_img read more

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