An early look at housing data collected under the Home Mortgage Disclosure Act suggests that credit unions continue to grow in the home finance market, the American Credit Union Mortgage Association announced Thursday.
Stressing that the analysis was preliminary, ACUMA President Bob Dorsa revealed that the 2011 HMDA data shows that credit unions have made gains in housing finance market share in 66% of the nation's standard metropolitan statistical areas.
In an email sent on the eve of ACUMA's annual conference next week, Dorsa said the organization has long believed mortgage lending has been that proverbial well-kept secret, Dorsa said, but not anymore.
“Consumers and Realtors nationwide are finding many CUs can deliver higher quality service, competitive rates and a much better 'borrower experience' and the statistics now clearly validate that”, he concluded.
ACUMA meets for its 16th national meeting in Las Vegas next week.
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