Align Times - Weekly Newsletter Vol. 2
Mortgage Application Dip Creates Opportunity
As you may recall from volume one, we touched on growth being a business imperative. But how does an institution grow when mortgage demand is down over 20% since the same time last year?
Applications on the mortgage side continue to plummet. Home prices rose in 2022, that combined with rising rates, demand for mortgages has dropped sharply. We have seen this downturn has led to greater opportunities in the home equity area at the credit unions we partner with.
Homeowners seem more comfortable using the additional equity they've built up to tackle those remodeling projects they've had on their wish lists. This uptick in volume has been greatly beneficial to the credit unions who are prepared to handle it. The key word here is prepared as an increase in volume that you aren't properly prepared to handle can hurt an organization. Missed opportunities lead to lost revenue, unhappy members and less future opportunities.
Prepare Now...
As you may recall from volume one, we touched on growth being a business imperative however, we also mentioned be careful what you wish for as growing the wrong way can sometimes cause major disruptions and chaos to your current staff and members.?
At Digital Align we designed a solution for you to grow smarter and safer called, AlignXcel. When utilizing this product your organization will be able to streamline your business processes to create scale and promote business growth and maturation.
It?allows the continued use of your existing?processes?and third-party tools, therefore not disrupting?your business and not putting your commercial needs at?risk.?
Your results will include increased revenues, margins, efficiency, and lower, more predictable operational costs, reduce regulatory and compliance errors close to zero, thus creating scale and accelerating company growth.
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Bottom line, when you grow smart & safe you are preparing your organization for the future and anything life throws at you.
What's Happening at Digital Align
Our own?Rajesh Patil?&?Kevin Murphy?were featured on a podcast with the amazing and always interesting,?Tolani Jaiye-Tikolo?from?RPA Jargon Buster. You'll find some very cool snippets below & the Podcast in its entirety will be featured on Monday 6/13.
Thank you and hope we added some value. We'll see you next week with more Align Times news, tips and suggestions. Have an awesome week!