With our focus on creating extraordinary experiences, we asked for feedback from you, our members and borrowers. Member experience is what 2016 was all about for Solarity, and most specifically in mortgage. Each mortgage loan that we originate receives 2 surveys, one when it is in process and one after it is closed. Our member outreach center contacts each borrower by phone for the first survey, allowing vital feedback to improve our processes and correct any issue with the mortgage before it is closed. We have learned a lot and made many changes to continue to strive for providing our mortgage borrowers an extraordinary experience.
Some of the changes include:
- Increase how often we communicate throughout the loan process
- Provide more education on the various steps of the process
- Implemented additional loan products to meet the demands and needs of our membership
- Hired more loan officers to serve the growing market more effectively
Member feedback is placing a large reliance on how we focus on new emerging technologies that could positively impact our members and borrowers. Over the next few years, Solarity will continue to enhance our digital mortgage experience and provide cutting edge technologies. In 2016 we took the first stride towards the digital mortgage era with the hiring of our first 2 digital mortgage loan officers. These are loan officers that will interact with you through digital forms of communication in the manner in which you prefer. This will allow the mortgage process to be at your convenience. Be on the lookout for these new loan officers and other exciting technologies to come your way.
Clearly mortgage is of significant importance to what we provide to our members here at Solarity and it is just as important to you. We look forward to all of the exciting changes to continually stay top of mind when it comes to premier mortgage lenders.
The strong real estate market coupled with lower interest rates has benefited our members. Members have been able to refinance their existing mortgages and save money on their payments. Other members have been able to buy their first homes, while others have been able to buy new homes. Regardless of the reason for the new mortgage, Solarity has been able to assist more members and guide them through the complexity of the mortgage process.
2016 at a glance:
- Steady decrease of homes for sale is increasing the appreciation of home values in the Yakima market.
- The average sales price for a home in the Yakima area is 8.5% higher than this time last year.
- This combination is causing an extremely strong seller’s market with active buyers significantly outnumbering sellers.
- The market has seen a 2.7% increase in the number of homes sold as compared to 2015.
- Solarity’s production is up over 20% year over year, thus growing our overall market penetration and becoming the #1 mortgage lender in the Yakima County.