This Opinion piece looks at how credit unions can better position themselves in a mortgage market skewing towards purchase and away from refinance.
Fidelity Mortgage and its former owner fined for paying banks for real estate referrals.
Network would connect banks selling the loans with credit unions looking to buy them.
From refinancing to new money mortgages but market overall continues to struggle.
Talking strategies for dealing with loss of noninterest income in the mortgage portfolio.
Credit unions and other mortgage lenders faced an economic pinch in 2013 as rising interest rates began to squash demand for refinanced mortgage loans while demand for purchase money loans still struggled to grow.
Bipartisan measure would "make it easier for Main Street credit unions to offer mortgages families and loans to small businesses."
With the recent mortgage refinance boom disappearing and home purchases continuing to flounder, even though rates remain relatively low consumers are being very careful with the home buying decisions—which makes this purchase an increasingly valuable commodity for the credit union.
Two credit unions currently offering jumbo mortgage loans said they will still provide them, despite large banks in their markets beginning to aggressively price similar offerings.
One credit union cuts rates to compete, another explains why not.