WATERFORD, Conn.–, 2018 – Charter Oak Federal Credit Union has be the Number 1 residential mortgage lender in eastern Connecticut for the eighth consecutive year, originating over 9,800 residential mortgages in New London and Windham counties combined since 2010 with a total value topping the $1.2 billion mark.
"It's a real honor for Charter Oak to be eastern Connecticut's top mortgage lender for eight straight years," said Brian A. Orenstein, Charter Oak's President and Chief Executive Officer.
"Year after year, our lending teams work very hard to find the right mortgage for prospective homebuyers and those looking to refinance," he said. "And because we offer more mortgage products with great rates and great terms, we've become the go-to provider of affordable mortgages for both New London and Windham counties," he said.
Charter Oak has held the top ranking in residential mortgage transactions in New London and Windham counties combined in 2010, 2011, 2012, 2013, 2014, 2015, 2016 and 2017 based on data collected from the Boston-based Warren Group’s Residential Mortgage Marketshare Report.
During 2017, Charter Oak originated 999 residential mortgages in New London and Windham counties combined with a total value of more than $126 million, exceeding all of the other local and national banks and credit unions that serve the two counties, based on The Warren Group's data. The next closest competitor to Charter Oak originated 519 mortgages in New London and Windham counties combined during the past year, according to the data.
Besides the top ranking for New London and Windham counties combined in 2017, Charter Oak ranked first in residential mortgages in New London County by originating 799 mortgages with a total value of over $106 million. Charter Oak also ranked first in residential mortgages in Windham County by originating 200 residential mortgages with a total value of over $20 million.
The Warren Group’s Residential Mortgage Marketshare Report includes all residential mortgages in New London and Windham counties with a value between $1.00 and $25 million. The Warren Group (www.warrengroup.com) collects and compiles data on real estate sales and ownership throughout New England and New York.