New Study Charts Credit Union Sales to Secondary Market

Feb 26, 2018

A new survey conducted by the National Association of Federally-Insured Credit Unions (NAFCU) has determined that more than half of its member credit unions are selling mortgages to the secondary market.

According to the NAFCU survey, about 35 percent of respondent credit unions said they were selling their mortgage loans to Fannie Mae, while nearly 12 percent were selling mortgages to Freddie Mac. Approximately 12 percent of respondents said that they sold their mortgages to both government-sponsored enterprises (GSEs).

On average, the credit union respondents to NAFCU's survey sold 37.1 percent of their mortgages into the secondary market. Whenever GSE reform comes around, nearly three-quarters of the credit unions in NAFCU’s study said they opposed eliminating the GSEs in favor of full privatization of housing finance without a government guarantee, instead preferring keeping the GSEs or offering a similar system with an explicit government guarantee.

About the author

Phil Hall

Link copied

Published

Feb 26, 2018

Industry News

DOJ Opens Criminal Investigation Into NY AG Letitia James Over Mortgage Fraud Claims

Investigation follows April referral by FHFA Director Bill Pulte; potential charges include wire, mail, and bank fraud

The U.S. Department of Justice (DOJ) has launched a formal criminal investigation into New York Attorney General Letitia James, according to multiple published news reports. The probe, which became public Thursday, May 8, follows an April referral from Federal Housing Fi...

Operations

Origination Volume Up, But Rocket Sees GAAP Net Loss Of $212M For Q1 2025

Company highlights strength of strategic acquisitions, integrations, product innovations as it furthers its mortgage ecosystem

In delivering its first-quarter 2025 earnings results, Rocket Companies — whose Rocket Mortgage unit is one of the nation’s top home loan lenders — pointed to the strength of its strategic acquisitions in its ongoing mortgage ecosystem-building, along with broker enhancement...