LAUREL, Md. – Tower FCU here reported it has now processed more than $70 million in mortgage refinancings as part of the government’s Home Affordable Refinance Program (HARP).

TFCU VP-Real Estate Lending Barry Stricklin said the average member who has refinanced has saved $425 a month on his or her mortgage payment, with some members saving more than $700 per month and one member saving more than $12,000 for the year.

The credit union said the results stem from being proactive in reaching out to members earlier this year about the second phase of HARP.


 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.