CDCU Mortgage Center

Expanding access to affordable homeownership is an essential element of financial independence for low- and moderate-income people and core to the Federation’s mission. Credit unions have long played an important role in homeownership financing and counseling as part of their historic commitment to serving people of modest means. The Federation’s homeownership initiatives aim to increase community development credit unions’ recognition as a source of responsible mortgage financing and to expand credit unions’ capacity as mortgage lenders and providers of accurate and consistent homeownership counseling.

The CDCU Mortgage Center

House keys Launched in 2005, the CDCU Mortgage Center established a secondary market for member credit unions’ mortgage loans to low- and moderate-income members. As of Sept 2016, The Federation’s mortgage portfolio is comprised of almost $7 million in affordable home mortgages originated by 11 community development credit unions across the country.

The CDCU Mortgage Center is a Secondary Market Program that purchases conforming and non-conforming affordable first lien mortgage loans from our member credit unions. By creating a pipeline for CDCUs to sell their mortgages, the CDCU Mortgage Center replenishes credit unions’ capital, enabling CDCUs to magnify their impact in their communities. Since its founding, CDCU Mortgage Center has purchased over 117 mortgages, total over $11 million in loans. The Mortgage Center helps CDCUs recycle capital in their communities, freeing up funds for additional lending. In 2016, the Mortgage Center launched a new initiative to dramatically increase the volume of loans purchased, providing an alternative to the predatory practices targeted at the minority, immigrant and low-income communities across the country, enabling our member credit unions to provide quality residential mortgage services to the communities they serve. During the second quarter, the CDCU Mortgage Center came to terms with Sterling National Bank for a $5 million facility to finance purchases of affordable mortgages to first-time homebuyers.

For more information, please contact Jack Baker, Director of the CDCU Mortgage Center, at

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