In 1949, seven employees at the National Advisory Council for Aeronautics formed a credit union. The agency was destined to become the National Aeronautics and Space Administration in 1958, on the cusp of a time period when the space race with the Soviet Union was to end with a man...
CUNA Mutual Insurance Society, CUMIS Insurance Society and MEMBERS Life Insurance Co., have filed suit against RBS Securities Inc. claiming that the firm made false representations of its offering documents at the time that more than a dozen residential mortgage-backed securities were purchased by the three plaintiffs.
Identifying the year’s key trends and determining how to capitalize on them for the benefit of your members and your bottom line is always important. However, 2011 will be particularly pivotal within the residential mortgage market. There are three areas to watch closely.
Part of the fallout from the mortgage meltdown is the debate on what constitutes a qualified mortgage.
Many credit unions remain trapped between rising consumer and member demand for mortgages backed by the FHA and HUD regulations governing those loans.
Lending Insights, providers of analytical tools and business intelligence solutions to the credit union industry, is offering a series of new analytical tools, reports and enhancements for the company's Lending Performance Management System.
In the regulatory equivalent of telling Santa what you want for Christmas, the credit union trade associations have all written the NCUA recommending changes on everything from insurance rules to lending rules.
For some credit unions, it may be taking longer to fill senior lending positions because candidates may lack the ability to think strategically, said Bill Vogeney, secretary and treasurer for the CUNA Lending Council.
Credit Union Times asked leaders of some of the industry's business lending CUSOs, "What will be the greatest challenge and opportunity for credit unions and their business lending programs in 2010?"
Nearly one in four mortgages nationwide was in negative equity status as Dec. 31, 2009, up 600,000 from third quarter, according to a report released yesterday by First American CoreLogic.