In June’s CU Times Pro webcast, Editor-in-Chief Michael Ogden and Lending Reporter Jim DuPlessis explored the latest credit union mortgage trends using fresh Home Mortgage Disclosure Act (HMDA) data. DuPlessis explained how this year’s analysis expanded to include 34 of the largest mortgage-producing credit unions, representing over 40% of the movement’s production.
A key takeaway was the strong mortgage growth in the Midwest, which saw an 11% increase in loan volume, contrasting sharply with the South, where lending declined 7%. DuPlessis pointed to lower vacancy rates and affordability as drivers for the Midwest’s surge. Meanwhile, the West showed only modest growth, with affordability barriers like an average loan size exceeding $450,000.
The conversation also highlighted borrower income distribution concerns. Only 15% of loans went to lower-income borrowers, while 30% served high-income households. This raised questions about the credit union industry’s efforts of serving the underserved and if it might be falling short.
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Ogden and DuPlessis stressed that tracking how credit unions serve lower-income members will be a critical focus moving forward as affordability and risk concentration continue reshaping the mortgage landscape.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
