finance crisis

RealtyTrac: Foreclosure Sales Down Sharply

By David Morrison | May 30, 2013

The market appears to have made significant progress digesting the large number of foreclosed properties left over from the housing finance crisis.
Possible Edward DeMarco Replacement at FHFA Has History With Credit Unions

By David Morrison | April 15, 2013

Media sources report that Mark Zandi, chief economist at Moody's Analytics, is a lead contender to replace DeMarco.
No Money Down Mortgages Stage a Comeback

By David Morrison | March 27, 2013

Two credit unions, NASA Federal Credit Union and Navy Federal Credit Union, are offering members mortgages without requiring any down payment or mortgage insurance.
Two Credit Unions Offering No Money Down Mortgages

By David Morrison | March 14, 2013

Navy Federal, NASA FCU have different philosophies, same approach to dealing with risk from mortgage loans with no down payments.
Industry Anxieties Wane Over Fannie and Freddie Reform

By David Morrison | February 27, 2013

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.
Housing Prices Rise, Housing Agency Says

By David Morrison | December 20, 2012

U.S. house prices rose 0.5% on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency.
Self-Help FCU Purchases $141 Million in Mortgages

By David Morrison | November 13, 2012

Deal aimed at helping preserve integrity of Chicago neighborhoods.
Suit Filed Against Bank of America

October 31, 2012

The U.S. Justice Department is suing Bank of America over alleged mortgage fraud perpetrated against Fannie Mae and Freddie Mac by Countrywide, the giant mortgage originator purchased by Bank of America.
CUs Continued to Work the Suffering Housing Market

By David Morrison | December 18, 2011

Credit unions worked hard in 2011 to continue to build their housing finance programs even as the overall housing industry continued to struggle with low home prices, high foreclosure rates and significantly tighter mortgage underwriting rules.
TDR Tracking, Demanded by NCUA, Makes CUs Bristle

By David Morrison | October 30, 2011

Credit unions by and large have been seen as the good guys in the ongoing housing finance crisis. In general, more conservative underwriting prevented most credit unions from making the mortgage loans that were most likely to wind up delinquent.