As large banks exit the mortgage business, credit unions have been given an opportunity to fill the void.
But in doing so, they must defy increased regulation and soaring servicing costs.
“Credit unions are the fastest growing category of mortgage lenders and servicers, but this is not an easy business,” R. Christopher Whalen, senior managing director and head of research at the Kroll Bond Rating Agency, said at a financial services conference sponsored by Jones Walker.
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