map of the U.S. showing credit union mortgage originations rose more slowly in 2020's fourth quarter than previously believed.

The future looks brighter this year for mortgage originations in the latest forecast released Monday by the Mortgage Bankers Association.

However, the past looks a little dimmer for credit unions as the MBA raised its estimate of total originations in 2020, lowering the share for credit unions and showing credit unions’ increase for the year was smaller than other lenders — not larger as it appeared compared with the previous, smaller total.

The MBA forecast dated March 19 showed significant increase in its estimate for refinances in the fourth quarter and forecast for the second quarter. It also showed a big bump for purchases in the second quarter.

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Jim DuPlessis

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