ACUMA says declining use of mortgage preapprovals by banks is a gift to credit unions.
LAS VEGAS — Credit union executives attending the American Credit Union Mortgage Association’s 2013 conference received both good news and bad news.
LAS VEGAS — Credit unions need to focus on some of their housing finance particulars as they think strategically about their housing finance business.
LAS VEGAS — Credit unions shifting housing finance programs from refinancing to originating new loans will face significant turnover, consultant says.
Applications for both new and refinanced mortgage loans continue to drop, according to the Mortgage Bankers Association.
President Barack Obama laid out his initiative to reform the secondary mortgage market in a speech on Aug. 6 that trash talked Fannie Mae and Freddie Mac and voiced support for a Senate bill that would wind down the government sponsored enterprises and replace them with a mostly privatized system.
President rolls out his own plan to wind down Fannie and Freddie, a plan similar to Corker-Warner proposal in the Senate.
President's new plan resembles Senate measure to wind down Fannie and Freddie.
The House Financial Services Committee passed the Protecting American Taxpayers and Homeowners Act July 24 by a vote of 30-27.
House panel passes measure to eliminate Fannie Mae and Freddie Mac, largely privatize secondary mortgage market.