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Article: Navy Federal Credit Union Tops $9 Billion in Servicing.(Brief Article)
- Article from:
- Mortgage Servicing News
- Article date:
- March 1, 2001
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Navy Federal Credit Union was servicing over $9 billion in first mortgage loans at the end of last year, giving it one of the largest portfolios among credit unions.
Unlike many credit unions that have chosen to sell servicing rights, Navy Federal wants to continue to own the customer relationship on a month to month basis.
"Navy Federal will always retain the rights to service the loan. As a credit union, service is what we are about," said Latisa Head, vice president of mortgage servicing.
Navy Federal recently conducted a mortgage servicing questionnaire which was mailed to 20,000 of the credit union's mortgage or home equity borrowers. ...