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OCEAN CITY, Md. — As the hottest real estate markets of two years ago turn into “the biggest losers” and the subprime market crashes, credit unions will likely fair better than other lenders.

It is no secret that credit unions tend to be more conservatively run. Credit unions are not as steeped in the high loan-to-value, low credit score, stated income subprime loans that have been the bane of the market, according to Scott Toler of the Credit Union Mortgage Association. “We’ve all seen that foreclosures are way up,” he told participants in today’s education sessions at the Maryland & D.C. Credit Union Association’s Annual Meeting. “That’s because people were put into loans they shouldn’t be in.”

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