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10 credit union leaders in mortgage servicing portfolios.

 
 

The nation’s credit unions sold roughly 48% of all mortgage originations to the secondary market in 2010, generating approximately $27.8 billion in income. This activity is 13% higher than industry averages for the past 10 years, signaling continued responsiveness to the low-rate environment and active ALM management.

7.1% of the industry bolstered their own real estate profolios and engaged in secondary market sales as of 2Q 2010. 6.3% of the nation’s credit unions ─ representing 50.2% of overall assets ─ added mortgages to the portfolio, sold to the secondary market, and serviced mortgages.

These credit union examples exceed the national averages of $13 million (for real estate loans sold but serviced) and $41.4 million (total real estate loans outstanding), and such activity tends to grow with asset size. However, these institutions highlight the current portfolio positioning at some of the nation’s larger institutions and can provide insight for credit unions of all sizes.

Leaders In Mortgage Servicing Portfolios
Data as of June 30, 2010
Rk Credit Union St Amount of RE
Loans Sold But
Serviced By CU
RE Loans
Outstanding
1st Mtg Loans/
Total Loans
1st Mtgs
Sold YTD
Total Assets
1 NAVY VA $15,135,209,258 $17,281,457,919 42.29% $528,109,793 $41,481,026,989
2 BECU WA $3,601,921,315 $4,228,494,382 28.45% $238,992,743 $8,956,948,732
3 ALASKA USA AK $3,109,267,786 $702,106,048 20.33% $440,078,889 $4,115,025,322
4 PENTAGON VA $2,232,283,670 $8,898,223,682 49.57% $925,564,313 $14,325,565,072
5 EVANGELICAL CHRISTIAN CA $2,111,441,259 $979,395,481 90.67% $146,259,752 $1,215,635,352
6 AMERICA FIRST UT $1,819,011,542 $1,277,793,967 23.63% $177,942,191 $5,018,170,497
7 BETHPAGE NY $1,760,284,469 $1,702,324,989 54.56% $241,584,044 $3,868,256,028
8 KINECTA CA $1,717,579,247 $2,477,683,551 68.44% $682,295,119 $3,503,351,845
9 DESERT SCHOOLS AZ $1,330,243,328 $1,261,853,241 34.46% $131,679,165 $2,966,034,424
10 WASHINGTON STATE EMPL. WA $1,244,594,598 $368,647,608 19.26% $97,948,845 $1,527,527,857
 

 

 

Jan. 20, 2011


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