An increased regulatory burden has not dissuaded credit unions from originating and servicing mortgages at least as much as they have in the past, the Government Accountability Office said in a report released July 25.
"Like community banks, credit unions generally do not appear to be shifting their portfolios away from mortgage lending," the GAO concluded.
The total share of all residential mortgages serviced by credit unions increased from about 3.1% in the first quarter of 2008 to about 5.7% in the third quarter of 2015. However, the largest credit unions accounted for most of that increase, the GAO said.
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