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WASHINGTON — With the recent release of the 2006 Home Mortgage Disclosure Act data, credit union trade group economists are applauding the fact that credit unions are approving more mortgages to low-income and minority applicants than other lenders.

NAFCU President/CEO Fred Becker touted the fact that, upon further analysis by his research team, “The findings of 2006 Home Mortgage Disclosure Act (HMDA) data demonstrate once again that credit unions are a preferred choice in the financial services industry, especially for people of modest means seeking mortgages. Credit unions are more likely to approve minority applicants, and they are more likely to offer loans at a lower rate of interest.”

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