Despite a tumble in first-mortgage production at California’s credit unions, outstandings grew. Home-equity production and outstandings, however, jumped.

As of Sept. 30, there were 318 credit unions that maintained their headquarters in California. The group served more than 11.4 million members.

Golden State credit unions originated $8.8 billion in first mortgages during the nine months that concluded on Sept. 30.

Source: Mortgage Daily