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.
BOSTON — NAFCU breakout session focuses on mortgage loans that don’t comply with CFPB qualified mortgage rules.
A New York-based investment banker said he’s noticed an uptick in his bank and credit union clients selling mortgages to the secondary market, especially when the loans aren’t performing.
I’m going to share with you excerpts from a report that was sent to the Consumer Financial Protection Bureau explaining why it should practice an asset size-based exemption for its regulations. The executive summary opens:
NCUA's concerns about regulatory overkill at CFPB are eye opening.
"It's a Wonderful Life" offers credit unions a sharp lesson on HOME ownership.
LAS VEGAS — The continued uncertainty surrounding the reform of the secondary mortgage market, combined with what that might mean for credit unions and what they should do, led the way at the American Credit Union Mortgage Association's 15th annual fall conference.
LAS VEGAS — Morning sessions for big ideas and breakout sessions to look up close marked the ACUMA conference here this week.
LAS VEGAS — The American Credit Union Mortgage Association welcomed more than 300 credit union executives to its fall conference, the largest in its history, according to President Robert Dorsa.
Report on mortgage reform is especially blunt in some places.