Florida credit union partners with AutoNation Direct.
Credit unions smashed through a previous record in the first-quarter 2012 when they originated 8% of all mortgages made in the U.S. Now there are signs that their success represents more of a sustainable trend than a mere statistical anomaly.
TruHome Solutions, a mortgage CUSO in Lenexa, Kan., has achieved another milestone, servicing more than $2 billion in credit union-originated mortgage loans.
Greater financial education, a greater variety of loan products and different lending strategies have all been techniques credit unions have begun to use to help borrowers meet more stringent housing finance requirements, according to executives from credit unions and mortgage CUSOs.
For what may be the first time ever, a credit union has become the biggest source of housing finance for a major metropolitan area in the U.S.