ALEXANDRIA, Va. -- NCUA Vice Chairman Rodney E. Hood addressed attendees of the National Federation of Community Development Credit Unions Mortgage Lending Seminar and commended them for their positive work in the current economy and stressed the importance of continuing to "be a part of the solution."
"You can do this through your commitment to serving the underserved and making capital accessible and affordable," Hood said. "With average net worth above 11.54%, America's federally insured credit unions are positioned to once again demonstrate the credit union philosophy of "people helping people" by making capital available to those who need it most, when they need it most."
The two-day seminar provided mortgage lending strategies to credit unions, housing organizations, nonprofits, housing industry professionals, and mortgage industry professionals.
Hood also identified the importance of homeownership as key to building sustainable wealth and creating strong, viable communities. Hood suggested partnering with organizations such as Federal Home Loan Banks, HUD and NeighborWorks America to increase homeownership.
"Such partnerships are necessary to make capital not only affordable but also available, particularly among the underserved," said Hood.
--lsiegriest@cutimes.com
