Executives from different parts of the credit union industry are hard at work to build credit unions’ share of the U.S. mortgage market even higher than the record 8% that credit union’s achieved in the first quarter of this year.
Callahan challenges industry to grow already-record 8% share to 20% by 2020; CUSO Mortgage Liquidity Solutions working on how.
The 44,000-member, $540 million National Institutes of Health Federal Credit Union, headquartered in Rockville, Md., has been working to prepare its housing finance program for whatever the federal government may choose to do with the two giant mortgage entities Fannie Mae and Freddie Mac.
The prospect of credit unions building a stronger housing finance industry received some good news last week when a new CUSO, Mortgage Liquidity Solutions, announced its first sale of participations in CU-originated mortgage loans.
Mortgage Liquidity Solutions makes sale for Affinity Plus FCU in St. Paul, Minn.