Credit Unions Record Modest Gains in Mortgage Originations in 2005; Navy Federal Leads the Way
April 13, 2006
Federally-insured credit unions reported $60.44 billion in mortgage originations in 2005, a 5.7 percent increase from the previous year, according to data from federal regulators. Credit unions still account for a very modest 1.9 percent of total originations. Navy Federal ranked as the top credit union mortgage lender last year, even though its origination volume dropped 7.7 percent from 2004. The institution’s $5.39 billion in new lending gave it an 8.9 percent share of the… [One data table included]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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