FAIRBORN, Ohio — Fannie Mae recently named Wright-Patt Credit Union, a $1.3 billion community-based institution in southwest Ohio, a 2007 Prime Alliance Lender of the Year.
Wright-Patt was chosen from among participants in the Fannie Mae Prime Alliance strategic relationship and earned the award thanks to community outreach, loan origination performance gains, and improved mortgage processing efficiencies.
In 2007, Wright-Patt's mortgage department generated 830 mortgages totaling almost $86 million. Of these, 339 were first time home buyer loans, totaling more than $31 million. These numbers represent a 19% total increase over 2006 and a 29% increase of first-time home buyer loans.
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The improvements are credited to credit union-produced home buying seminars and a home rebate program that provided considerable savings for members. In November 2007, Wright-Patt joined with the Ohio Credit Union Foundation and 10 Dayton, Ohio, credit unions to raise $65,000 toward hiring a certified foreclosure counselor exclusive to the area. The counselor focused on helping homeowners facing foreclosure save their homes.
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