One thing that could be in play is mortgage originators often sell loans to other investors post-origination. I am talking about Fanny Mae and Freddy Mac and ot

One thing that could be in play is mortgage originators often sell loans to other investors post-origination. I am talking about Fanny Mae and Freddy Mac and others, who hold a ton of homeowner debt on their books. 460 million of loans is about 1000 average-sized mortgages at issuance - if your CU's entire business was 1000 loans they'd probably not bother with it since the staff and infrastructure to do it is such a pain in the ass. Chances are this represents some unknown percentage of total issuance that just happened to not have been sold.