Fri, Jul 19, 2013
- By Gary Haber
- Staff Reporter- Baltimore Business Journal
Three Baltimore-area credit unions were among the 300 largest originators of mortgages last year, according to an industry group.
SECU placed 29th in the ranking by the American Credit Union Mortgage Association. The Linthicum-based credit union originated 2,973 first mortgages — both fixed-rate and adjustable-rate — worth a combined $619.3 million in the 12 months ended Dec. 31.
The study, which used data from Callahan & Associates, a Washington, D.C., credit union industry consulting firm, ranked credit unions by the dollar value of first mortgages originated in 2012. The study did not include mortgage refinancings in the rankings.
Laurel’s Tower Federal Credit Union ranked 57th with 1,623 mortgages worth $383.6 million. Aberdeen Proving Ground Federal Credit Union in Edgewood was No. 207 with 664 mortgages worth a combined $117.6 million.
Navy Federal Credit Union, of Merrifield, Va., ranked first, originating 43,901 mortgages for a total of $10.3 billion. Nationally, credit unions across the U.S. originated 742,224 first mortgages worth a total of $124.1 billion.
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