A stable real estate market and payments during draw help the $4.8B ESLFCU manage a 45% concentration in HELOCs.
Regulatory advice includes specific expectations of examiners, such as risk management strategies and documentation.
Credit unions should train employees to look for triggers that would require disclosures and terms mandated by the Home Ownership and Equity Protection Act, said presenters Oct. 16 during a CUNA Mutual webinar.
CUNA Mutual webinar outlines disclosures and terms required by regulators.
One large credit union on Long Island, N.Y., is finding that its members have both demand and ability to take out home equity loans and lines of credit.
CoreLogic research finds that second mortgages worsening equity positions for homeowners.