Navy Federal, NASA FCU have different philosophies, same approach to dealing with risk from mortgage loans with no down payments.
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.
U.S. house prices rose 0.5% on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency.
Deal aimed at helping preserve integrity of Chicago neighborhoods.
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.
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.
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.
LAS VEGAS -- The American Credit Union Mortgage Association wanted attendees at its 2010 annual conference to walk away with two convictions.
LAS VEGAS -- One of the nation's leading real estate executives offered credit union mortgage executives a robust defense of the home buyers tax credit that had been in place earlier this year.