Kinecta Federal Credit Union Reports Record Mortgage Loan Volume

Market improvements benefit growing mortgage lender

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Nov 30, 2012, 09:22 ET

MANHATTAN BEACH, Calif., Nov. 30, 2012 /PRNewswire/ -- Last month, Kinecta Federal Credit Union reported a record mortgage volume of just over $3 billion, exceeding its 2011 volume with the fourth quarter still remaining. As a mid-tier direct lender in wholesale, correspondent, and retail mortgage lending markets, Kinecta has benefited from dramatic shifts among many of the major lenders, combined with Kinecta's own strategy for continuing growth.

"The mortgage market is showing marked improvement and with that we have been able to offer significant benefits to our members," said Joseph Whitaker, EVP, Chief Operating Officer. "Kinecta offers competitive low rates and a broad product menu and we will continue to do so as we move forward, continually growing as a national mortgage lender."

Kinecta Federal Credit Union is a direct lender providing a range of fixed and adjustable home loans for purchase or refinance. It offers attractive loan products through agency, portfolio, and FHA lending, in addition to correspondent lending and special loan programs offered in conjunction with leading mortgage insurance providers.

About Kinecta Federal Credit Union – Kinecta Federal Credit Union (kinecta.org) is one of the nation's largest credit unions, with approximately $3.12 billion in assets; 22 branches; four retail mortgage centers; 44 Nix customer service centers and 12 Kinecta branches at Nix locations; and over 230,000 members nationwide. Headquartered in Manhattan Beach, Calif., Kinecta was founded to serve employees of Hughes Aircraft Company and now serves employees from Boeing Satellite Systems, Raytheon Systems Company, DirecTV and other select employer groups. Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Insurance Services, Inc., and Kinecta Alternative Financial Solutions, dba Nix Financial (MyNixFinancial.com). For more information about Kinecta's Wholesale Mortgage Lending division, visit www.LoanKinection.com.

Media Contact:
Marsha Mathias
Director, Corporate Communications
310.643.2625
[email protected]

SOURCE Kinecta Federal Credit Union