SNL Financial sees shakeout coming, especially among younger mortgage finance firms.
By the time next year rolls around, Truity Credit Union in Bartlesville, Okla., will be ready to comply with new mortgage loan requirements from the Consumer Financial Protection Bureau. Thanks to policies and procedures already in place, the final adjustments won’t likely be traumatic for the credit union.
An innovative housing finance company is poised to introduce a new approach to mortgage lending, just when mortgage finance reform has put the future of the 30-year fixed rate mortgage in doubt.
Minnesota CUSO says correspondent and retail lending both showing payback improvements.
Real estate program aimed at making credit unions one-stop shop for members and purchase mortgages.
CU Members Mortgage says low down payment and high buying desire make now time to reach out to younger set with FHA option.
Just over a year since it purchased noted mortgage CUSO Prime Alliance Solutions, Mortgage Cadence has been purchased by Accenture, an international financial services consulting and software firm.
Service allows borrowers to lower rates without refinancing.
By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.
BOSTON — The Consumer Financial Protection Bureau’s qualified mortgage rule that limits closing costs to 3% of the loan balance will have such a big impact on Midwestern credit unions, one Minnesota-based executive said he’d lose money if he complied.