Most Credit Unions Over $50M in Assets Hold Some Assets in First Mortgage Loans

A profile of the first mortgage lending market in credit unions.

 
 

Due to drastically reduced interest rates, the year 2001 saw the highest ever volume of mortgage activity in the United States--over $2 trillion in originations. Seeing the wealth of opportunities available in such a climate, many credit unions took advantage of the situation and experienced remarkable outcomes. However, more commonly, credit unions were not prepared to handle this change, and so, have been less able to take advantage of these new circumstances. Callahan's 2002 Credit Union Mortgage Lending Report: Strategies and Practices in a High Growth Environment helps credit unions learn how to join the ranks of those credit unions thriving in this new climate.

Most credit unions with more than $50 million in assets have at least some of their assets in first mortgages. Two-thirds of these credit unions hold more than ten percent of their assets in first mortgage loans. Twenty-three percent of these credit unions hold one to ten percent of their assets in first mortgages.

 

 

 

May 6, 2002


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