It seems likely that 2013 will contain two distinct aspects forcredit union mortgage programs.
|On the one hand, it seems certain that credit unions willcontinue to take a greater share of the overall mortgagemarket.
|Barring something unexpected, such as a national credit unionscandal of some sort, consumers seems likely to continue theirongoing infatuation with credit unions as locally based, financialservice providers and this directly helps boost credit unionhousing finance programs.
|More 2013 Watch
- Dec. 28, 2012 Marketing in the Year Ahead
- Dec. 27, 2012 Gen Y in the Year Ahead
- Dec. 27, 2012 Member Investments in the Year Ahead
- Dec. 26, 2012 Member Business Lending in the YearAhead
- Dec. 26, 2012 Human Resources in the Year Ahead
- Dec. 21, 2012 Credit Union Taxation in the YearAhead
- Dec. 20, 2012 CUSOs in the Year Ahead
- Dec. 20, 2012 NCUA Board in the Year Ahead
- Dec. 19, 2012 Cards in the Year Ahead
- Dec. 18, 2012 Low Income Service in the YearAhead
- Dec. 18, 2012 Bank Conversions in the YearAhead
- Dec. 17, 2012 Student Lending in the YearAhead
- Dec. 17, 2012 Auto Lending in the Year Ahead
In addition, as with credit cards, credit unions have room toboth expand and improve their housing finance programs and that canonly lead to more credit unions extending more mortgages.
|On the other hand, it's also likely that Congress will take upthe reform of Fannie Mae, Freddie Mac and the secondary-mortgagemarket and it's very unclear what they might do.
|Secondary housing finance reform is the one remaining aspect offinancial service reform still undone after the 2009 financialcrisis, and it's not certain which approach legislators mighttake. Should the market reform they choose favor credit unionaccess to the reformed secondary market, credit union mortgageexpansion could be quite strong.
|Credit union mortgages have long commanded a stronger safety andsoundness premium when compared to those underwritten by banks andin a truly fair market those mortgages should become a morevaluable credit union asset.
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