The Federal Housing Finance Agency, the regulator and manager of government-owned Fannie Mae and Freddie Mac, is poised to start to restructure the secondary mortgage market whether credit unions, banks or legislators are ready or not.
Despite what almost everyone agrees is the deep importance of the topic, credit unions have become largely ambivalent about reforming the secondary mortgage market and uncertain about potentially disrupting a system which seems to be working well, according to executives with credit union organizations familiar with the issue.
Trade group files brief in federal appeals court arguing that credit unions are working in good faith to comply with regulations.
Court rejects tax exemption arguments as not being part of Federal Credit Union Act intent.
The banking industry’s longstanding effort to deter or prevent credit unions from using the words “bank” and “banking” in advertising was advanced to a new plateau last week with a proposed cease and desist order placed by the state’s top regulator on the $600 million Vermont State Employees Credit Union.
Credit union hit with banker-backed state order to quit using "banking" in ads and marketing.
CUNA, NASCUS, CUNA Mutual Group and AACUL ask IRS to make sure not to repeat last year's kerfuffle.
Possible Fannie Mae, Freddie Mac write-downs could in fact help credit unions by forcing losses onto holders of first liens.
NAFCU, ABA react to FHFA director comments about considering principal forgiveness for some underwater loans at Fannie Mae and Freddie Mac.
Some state-chartered credit unions have been told by the Internal Revenue Service that they are no longer tax exempt because the IRS hadn’t received their 990 forms.