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Conforming Credit Union Originations Surge

Conforming Credit Union Originations SurgeQ1 2009 up 242% from Q1 2008

May 12, 2009

By staff

Fannie Mae business at U.S. credit unions has more than doubled.During the first quarter, total delivery dollar volume for credit unions that participate in an alliance between the secondary lender and the National Association of Credit Unions shot up 242 percent from a year earlier, an announcement today said.

Based on number of the number of loans delivered, volume was up 227 percent from the first-quarter 2008.

Looking at just purchase-money activity, volume was 13 percent higher, the NAFCU said.

Between February 2008 and February 2009, the trade group reports that mortgage originations accounted for 73 percent at credit unions.

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