Emerge24: Northwest FCU's Trent Saflin Talks Home Equity Loan Insurance Protection
CUbroadcast
Trent Saflin, Mortgage Loan Officer at Northwest Federal Credit Union and 2024 CUES Emerge finalist, stopped by the show to share why he entered the CUES Emerge competition this year, how he sees it affecting/boosting his career, his experience so far, and his business case that he will present on the Live Pitch Show on October 2 at 11:00 a.m. (PST).
Here's his business case: Home Equity Loan Insurance Protection Product
The purpose of our 90-100% home equity product is to help members consolidate existing debt and increase cashflows by leveraging up to the full value of their home. This program will be a closed-end loan product capped at $250k and will have a fixed interest rate over a 20 year term at 9.50%.
This product will be partnered with a private vendor that will insure these loans and guarantee 100% coverage of total losses. The private vendor will set underwriting requirements. Members will be required to complete a financial counseling course that will be conditioned prior to settlement with the credit union’s credit counseling partner.
Check it out and let us know your thoughts. And don't forget to watch the CUES Emerge Finalist Live Pitch Show on October 2 at 11:00 a.m. (PST).