Quarterly mortgage originations were down from the prior period at Lake Michigan Credit Union, as was annual lending. The servicing portfolio grew, though.
As of Dec. 31, 2016, the Grand Rapids, Michigan-based credit union serviced 56,580 residential loans with an aggregate principal balance of $8.800 billion.
The mortgage servicing portfolio expanded from 55,030 loans serviced for $8.513 trillion three months earlier and 51,732 loans for $7.964 billion a year earlier.
Source: Mortgage Daily