Navy Federal Plans $Boost in '09 Mortgage Production

Published January 05, 2009, 2:00 p.m. EST

1 Min Read

Navy Federal Credit Union, Vienna, Va., after doing $5.7 billion in mortgage originations in 2008, has committed $6 billion to originate mortgage loans for its members in 2009. The 2008 production volume was the second highest in the company's history. According to SourceMedia's Mortgage Industry Directory, Navy FCU did $5.1 billion in 2007 and $4.8 billion in 2006. Cutler Dawson, president and chief executive said that because the CU did not do subprime loans, it "saw a strong 'return to trust' in 2008 and we're committed to continuing that momentum in 2009."

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