Credit unions are having a strong showing at this year's convention of the National Association of Realtors.
The American Credit Union Mortgage Association is attending for its sixth year, according to ACUMA CEO Robert Dorsa and, due to an absence of other lenders, credit unions are really standing out.
"Other than the major competitors, Wells Fargo, Chase and Bank of America, America's credit unions were the only lenders present," Dorsa reported from the meeting. "The America's Credit Union banner was our way of 'strutting our stuff' when it comes to the role many of ACUMA's members are playing in current production levels. I even noticed several participants gazing at the banner almost in disbelief of the sheer number and volume of loans transacted in the first half of 2009," Dorsa recounted.
Credit unions have significantly increased their share of the mortgage market as other lenders retreated in the face of the current economic crisis.
