RBFCU Surpasses a $1 Billion Landmark in Mortgages Funded
Signs Point to $1.5 Billion by 2021
LIVE OAK, Texas (Sept. 9, 2020) — A steady increase in home lending has led Randolph-Brooks Federal Credit Union (RBFCU) to a significant landmark. RBFCU has surpassed $1 billion in funded mortgage loans.
RBFCU Senior Vice President-Mortgage Victor Williams says application volume remains extremely strong and pipelines are still very full. This accomplishment is a team effort.
“I totally appreciate all the support from the different business units at RBFCU helping us manage through these record-breaking volume levels,” he said.
RBFCU is a partner in helping Texans buy — and keep — their home. RBFCU is recognized as the No. 1 Mortgage Lender in Texas for Credit Unions — Loans Funded based on 2018 National HMDA data published by the Federal Financial Institutions Examination Council.
Although RBFCU also provides high-value mortgage services through Domain Mortgage, these figures do not include business through Domain Mortgage.
According to Vice President of Mortgage Originations Steve Menczer, RBFCU Mortgage Lending had not recorded a $100-million funding month prior to October 2019.
“We have not seen anything below that mark since December 2019, with most well exceeding,” Menczer said. “Given the current extenuating circumstances, it continues to make these accomplishments that much more impressive. Our employees are contributing greatly to the financial health of the credit union as well as fulfilling the mission of improving our members’ economic well-being and quality of life.”
RBFCU assists members with all details of homebuying. This includes the eBook “Buying a New Home: A Quick Start-to-Finish Guide,” which can be found on rbfcu.org. The credit union offers many other online tools and educational resources to make buying, selling or refinancing a home easier.
“All signs are pointing to greater than $1.5 billion by end of year,” Williams said.
About Randolph-Brooks Federal Credit Union
Established in 1952, Randolph-Brooks Federal Credit Union is a full-service financial cooperative whose mission is to improve members’ economic well-being and quality of life. With assets exceeding $14 billion, RBFCU serves more than 975,000 members at 61 branch locations throughout Texas.
Salvador Guerrero, Assistant Vice President-Communications