WASHINGTON, D.C. -- CUAnalyzer, the Internet-based financial performance analysis tool for the credit union industry developed by Callahan & Associates here provides individualized analysis of credit unions' mortgage operations, including graphs and charts that allow for a comprehensive overview of a CU's mortgage lending as compared to a defined peer group.
There are six graphs in the packet including: Growth of Real Estate Originations, Real Estate Loan Penetration, and Total Real Estate Servicing Portfolio, said Callahan's. "Creating culture of data awareness within the credit union industry is key to understanding performance metrics and driving member value," said Chip Filson, president of Callahan & Associates, Inc., "With a culture of data awareness, a platform for discussion is created, statistics can be used to track execution, and comparisons can become much better attuned to external realities. Using the right data is not the end point, but rather the foundation for creating a performance culture," Filson said.
CUAnalyzer will help a credit union understand its mortgage performance versus peers by providing detail on the credit union's mortgage package. Subprime mortgage issues continue to plague the nation's largest banks and most prominent mortgage lenders. Because of credit issues and liquidity challenges, 40% of domestic banks are tightening mortgage lending standards according to the Federal Reserve.
Credit unions remain active mortgage lenders as competitors pull back. As a result, credit unions' share of the mortgage market through the first nine months of the year has risen to 2.4% percent from 1.9% in 2006, said Callahan's. This is the highest share ever captured by credit unions. For more information, visit www.CreditUnions.com.