Credit Unions Notch Record Share of Mortgage Market
For the first time ever, credit unions have originated more than 8% of U.S. mortgages originated in any given three-month period, according to an analyst with Callahan & Associates.
The previous record had been just more than 5%.
Credit unions hit the new mark in the first quarter of this year, according to Lydia Cole, director of industry analysis for the firm.
She made the observation to credit union mortgage executives attending a CU Mortgage Lending Regional Workshop in Orlando, Fla., on Thursday.
The workshop is sponsored by the American Credit Union Mortgage Association.