Credit Union Mortgage Originations On The Rise

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Data from Callahan & Associates’ mortgage market intelligence product, MortgageAnalyzer, shows credit unions originated 8.3% of the total number of mortgage originations up 5.2% since 2007.

“Loan originations are an indicator of member service and the numbers coming out of North Carolina, Iowa, and Hawaii are telling of the impact credit unions have in their state,” said Jon Jeffreys, Managing Partner of Callahan & Associates.

Data from Callahan & Associates’ mortgage market intelligence product, MortgageAnalyzer, shows credit unions originated 8.3% of the total number of mortgage originations up 5.2% since 2007.

Credit unions in North Carolina, Iowa, and Hawaii led the industry in growth of number of loan originations. Between the three states, credit unions helped place 55,616 families in new homes and saw an increase of 28% in the number of mortgage loans originated from 2012 to 2013.

•In North Carolina, credit unions increased loan originations by 36.4% from 2012 to 2013, while on a statewide level including banks, originations dropped 3.5% over the same period. The increase in credit union originations was driven largely by strong increases in purchase mortgage originations, which grew 72% during the period.

•Iowa credit unions increased their mortgage loan originations by 16.9% from 2012 to 2013. This increase was driven by a 66.3% increase in purchase mortgage originations.

•Hawaii credit unions also experienced strong growth relative to their bank competitors in 2013. Total loan originations grew 16.1% from June 2012 to June 2013. Driving this growth was a market share expansion by credit unions into the home improvement loan origination market.

Arkansas, Arizona, West Virginia, Texas, Louisiana, Wyoming, and Colorado round out the top 10 performing states in number of credit union loan originations.

“Loan originations are an indicator of member service and the numbers coming out of North Carolina, Iowa, and Hawaii are telling of the impact credit unions have in their state,” said Jon Jeffreys, Managing Partner of Callahan & Associates. “Our re-launch of MortgageAnalyzer is geared to help credit unions positively impact their members’ lives by identifying markets where credit unions can step in and place families into new homes.”

MortgageAnalyzer uses the Home Mortgage Disclosure Act (HMDA) data which is comprised of more than 19 million data points. Callahan scrubs, aggregates, and processes the data delivering an effective, efficient and contextual platform for understanding mortgage markets and opportunities. MortgageAnalyzer also provides market intelligence on non-depository institutions such as online and non-traditional retailers.

For more information about MortgageAnalyzer please contact Callahan & Associates at (800) 446-7453 or visit http://www.callahan.com.

Callahan & Associates is dedicated to helping the credit union industry thrive. Our team of experts provides leading research, analytics, networking and consulting solutions. More than 4,000 credit unions and industry suppliers rely on us for the latest data, actionable insights and benchmarking tools to develop their unique competitive advantages and achieve their strategic goals. Our 30 year history has enabled us to build an unparalleled knowledge transfer consortium which connects the industry’s best minds. To learn how you can join Callahan’s network, please visit http://www.callahan.com.

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Victoria Neeb
Callahan & Associates
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since: 08/2011
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