Despite a downturn in the home mortgage refinance market, credit union housing finance programs still refinanced significantly more mortgage notes in 2013 than they originated purchase money loans, according to data reported under the Home Mortgage Disclosure Act.
According to 2013 HMDA data accessed through LendingPatterns.com, a data analysis tool developed by Compliance Technologies Inc., credit unions originated over 50,000 fewer mortgage loans in 2013 than they did in 2012.
In line with the slowed housing market, credit unions originated only 610,536 mortgage loans in 2012, while they booked 674,150 of them that year, the data showed.
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
© 2024 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.
