BOSTON – Just 8% of all credit unions currently offer commercial mortgages, but that percentage is expected to increase to 18% by 2009, according to a new report from Aite Group.
The report, Commercial Mortgage Technologies: Automating a Non-Standardized Process, examines growth trends for banks and credit unions. In 2005, the loans totaled $459.6 billion with apartment complexes, building and offices comprising more than 50% of business. The average loan size was about $12 million and originations are expected to exceed $615 billion by 2008.
Credit unions and community banks are among those migrating to this growing lending area, said Christine Barry, research director at Aite Group and the report's author.
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