“If knowledge is power, knowing what we don’t know is wisdom.”―Adam Grant
There exists an untapped resource in the finance and housing industry that most lenders miss: a business partner who increases market share, boosts competitive advantage, prepares not-so-ready borrowers and helps close loans for direct, bottom-line benefit
Many counseling organizations deliver recession-proof solutions that transcend a changing market to increase production, revenue, market share and new borrower contacts.
What Counseling Organizations do:
HUD-approved organizations employ certified homeownership advisors who provide potential clients with rigorous training and guidance related to personal finances, credit, savings, budgeting, and the homebuying process. These agencies have extensive community influence and mortgage and financial knowledge, making them uniquely strategic partners for your business—especially HUD intermediaries, who oversee at least 9 local organizations within their network.
Why partner with the right Counseling Organization:
1. Reach more diverse renters who can afford to buy.
According to Freddie Mac, millions of African-American and Hispanic families who currently pay thousands in rent could easily qualify for a mortgage. Potential homebuyers with sufficient income become strong loan candidates through credit preparation, personal guidance, and access to downpayment and closing cost assistance.
2. Reduce costly foreclosures and access hard-to-reach homeowners.
Advisors liaise with homeowners to bring delinquent clients back to financial stability, slashing servicer costs and time. They also guide otherwise elusive homeowners through construction, refinance, and reverse mortgage options.
3. Increase your loan approval rates—and reduce denial fallout.
When buyer eligibility is enhanced before the application by sending them to a local credit guidance partner first, you have fewer denials and more closed mortgages. On the other hand, denying not-so-ready borrowers without utilizing counseling organizations results in a loss of long-term credibility, not just with the client, but their extended network. Denials reinforce these communities’ negative views of lenders, limiting their capacity to build positive goodwill in the community.
4. Build brand awareness and market share in marginalized communities.
Underrepresented people are wary of financial institutions, and thus tough to reach through conventional channels. A partner within the market delivers access, outreach, goodwill, and a trusted third-party endorsement.
5. Receive warm referrals and effective go-to-market strategies.
We market and promote partner programs, introducing your products and services to new homebuyers. A warm introduction by a trusted advisor can make the difference between closing a loan or not.
6. Recession-proof your business.
Leverage an economic lull to prepare potential homebuyers—so that when inventory increases, buyers are lined up and ready to purchase.
As a housing counseling intermediary, HomeFree-USA is the premier bridge to financial strength and homeownership success for people of color across America through our five pillars:
- Homeownership – credit preparation and financial guidance, helping people buy and keep their homes.
- Housing Development– expanding affordable options in diverse markets.
- Small Business Growth – developing our national network of 50+ affiliates.
- Government Services – working with governments to keep families in their homes and distribute dollars to right-party contacts.
- HBCU Talent Development – advancing next-gen leaders for financial services workforce.
Founded in 1994 and a HUD intermediary since 2003, HomeFree-USA partners with the top fifteen banks and several independents—including Wells Fargo, Bank of America, Rocket Mortgage, Truist, US Bank, Citi, TD Bank, and many more—to go beyond CRA credit to bring tangible, repeatable business results:
- 96% of our mortgage applicants get approved on the first application.
- 0% foreclosure rate. (Some moved before foreclosure through our guidance).
- Thousands of new homeowners, 85% people of color.
- Access to 4.3M LMI families through 50+ affiliates across the U.S.
Take the next step. Contact HomeFree-USA today to increase your production, recognition, and community traction: reply to this email or call me for an appointment.
