VIENNA, Va. – By yearend, Navy Federal Credit Union will be servicing over 91,000 first mortgage loans, totaling more than $10.3 billion outstanding. In addition, Navy Federal will close over $3 billion in first mortgages in 2001. During 2001 alone, Navy FCU's mortgage servicing portfolio grew over $1.3 billion, a 15% increase in total mortgage loans outstanding serviced this year. By the end of the third quarter, the world's largest credit union already reached $10 billion in servicing. Navy Fed sells approximately 82% of its mortgage loans in the secondary mortgage market, but it retains the servicing rights and provides lifetime mortgage loan servicing. Navy FCU currently services $8.4 billion in mortgage loans for investors on the secondary mortgage market. It services an additional $1.5 billion in equity loans. Navy FCU has $14 billion in assets and more than 2 million members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
