According to recently released 2008 HMDA data by the Federal Reserve, credit unions have not experienced a significant reduction in home-lending activity over the past couple of years. As a result, credit unions have seen an increase in their market share of one-to-four family site-built HMDA loans, especially junior liens.
Credit union market share of first lien mortgage originations more than doubled from 2.6 percent in 2004 to 5.5 percent in 2008.
Junior lien market share experienced an almost four-fold increase from 7.6 percent to 28.3 percent. Because less than five percent of all junior liens at credit unions were for home purchases, the collapse in the housing market did not adversely impact credit union originations of junior liens.
No comments:
Post a Comment