The nation’s credit unions significantly lifted quarterly mortgage production on both a quarter-over-quarter and year-over-year basis. Here’s who the biggest producers were.
U.S. credit unions
originated $42.771 billion in residential loans during the period that began on April 1 and ended on June 30.
Credit union mortgage production soared from the first quarter, when home lending in the sector came in at $31.264 billion.
Business was also better than in the second quarter of last year, when credit unions closed $29.5 billion.
The data was provided to Mortgage Daily by Callahan & Associates.
Second-quarter 2015 originations included $35.650 billion in first mortgages and $7.121 billion in other real estate loans.
Another report from Thomsen Reuters listed the biggest credit union mortgage lenders.
At the top of the list was
Navy Federal Credit Union, which previously reported to Mortgage Daily that volume rose to $3.661 billion from the first quarter’s $2.487 billion.
Next was
Pentagon Federal Credit Union, where business rose to $1.136 billion from $0.743 billion.
No. 3 was State Employees Credit Union with $0.777 billion in mortgage production versus $0.588 billion in the first quarter.
Kinecta Federal Credit Union followed with $0.753 billion in closings, up from the previous period’s $0.681 billion.
After that was First Technology, where activity accelerated to $0.623 billion from $0.409 billion.
No. 6 Lake Michigan Credit Union previously reported as part of the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey that fundings were $0.755 billion, up from $0.591 billion.
Bethpage Federal Credit Union, which landed in the seventh position, previously reported to Mortgage Daily that business was $0.364 billion in the second quarter, more than the $0.242 billion three months earlier.
At $0.440 billion, Boeing Employees was next. Business
moved up from $0.361 billion in the first quarter.
Security Service Federal Credit Union closed $0.365 billion in the second quarter, more than the previous period’s $0.236 billion.
No 10 Alaska USA Federal Credit Union previously reported that volume climbed to $0.341 billion from the first quarter’s $0.247 billion.
