Skip to main content

PenFed CU Sees Record Annual Mortgage Lending Volume

Navi Persaud
Jan 21, 2022

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

In the fourth quarter of 2021, PenFed's mortgage lending volume consisted of $6.3 billion in mortgage loans, bringing the total mortgage lending volume to $19 billion for the entire year.

“Making $31 billion worth of mortgage and consumer loan originations in 2021 is the result of PenFed's value proposition of great rates for everyone, inspired leadership within our mortgage and consumer lending teams, and the dedication to member service of the 3,700 financial professionals who power PenFed forward,” said PenFed president and CEO James Schenck.

“In addition to accomplishing these key business milestones, PenFed is proud to have donated $5.5 million to charitable organizations in 2021.”

Schenck also stated that the company will continue to give back to the communities of its members and employee as it continues to grow. 

Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving 2.6 million members worldwide with $32.5 billion in assets.

Published
Jan 21, 2022
RMF: Payments Going Out In The Next 24 Hours

Company filed for Chapter 11 bankruptcy last week.

Industry News
Dec 06, 2022
Bankruptcy Court Approves RMF Requests

Payments to reverse mortgage borrowers to resume.

Industry News
Dec 05, 2022
Redfin Adds Zoning Data For More Than 70M Homes

Real estate brokerage teamed with Zoneomics to educate buyers on zoning implications.

Industry News
Dec 05, 2022
Guild Mortgage Acquires Inlanta Mortgage

Guild CEO says acquisition is part of broader plans to expand nationwide.

Industry News
Dec 02, 2022
Ohio Couple Sues Mr. Cooper Unit Over Loan Modification Denial

Seek class action status over denial of COVID-19

Industry News
Dec 01, 2022
Ready Life Changing The Homebuying Narrative

CEO says that the credit score system is an out-of-date barrier to people of color

Industry News
Nov 30, 2022