Foreclosures Are Unheard of at National Federation of CDCUs
Even as the economy improves, foreclosures remain a problem for many lenders–but not for the National Federation of Community Development Credit Unions.
The federation’s mortgage program has experienced no foreclosures and only a few delinquencies. Minor modifications have worked out well. Terri Fowlkes, director of NFCDCU Community Development Investments, which includes the CDCU Mortgage Center, credited that to several factors.