MADISON, Wis. – By all accounts, 2002 was a good year for CUNA Mutual Mortgage. The company set records in four areas-loan originations, monthly funding, loan servicing, and members served. CUNA Mutual Mortgage provided more than $4.7 billion in mortgage loan origination services to CUs and members, passing its earlier record of $3.1 billion set in 2001. Loan originations in December alone set a new record for the company-$446 million compared to $260 million in December 2001. Loans serviced reached nearly $9 billion, compared to $7 billion in 2001, and members served hit 93,000, up from 80,000 the previous year. Jim McCourt, svp, CUNA Mutual Mortgage's Homeownership Solutions said the company expects the growth trend to continue into 2003 and even longer than that. "Credit unions have less than 3% of the entire first-mortgage market, so there's plenty of lending opportunity out there."
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