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...
If there were a category of potential credit union members that could be described as beyond unbanked, those would be the people that the Durham, N.C.-based Latino Community Credit Union seeks to serve.
Program aims at easing interest rate, down payment barriers.
Despite the U.S. housing finance market ongoing uncertainty, three credit union mortgage executives painted a largely positive outlook for 2012. Credit Union Times asked their thoughts on what the industry can expect as well as what the mortgage lending expectations in are in local markets.
Greater financial education, a greater variety of loan products and different lending strategies have all been techniques credit unions have begun to use to help borrowers meet more stringent housing finance requirements, according to executives from credit unions and mortgage CUSOs.
The ongoing saga involving PMI Mortgage Insurance and CUNA Mutual Group Mortgage Insurance entered into a new stage on Thanksgiving Eve when the PMI Group, PMI MI's holding company, filed for bankruptcy in federal court.
PMI, which with CUNA Mutual Group created CMG Mortgage Insurance in 1993, filed for Chapter 11 bankruptcy protection Nov. 23.
One example of this trend is the 162,000-member, $1.41 million UW Credit Union, headquartered in Madison, Wis.
A dispute over who owns the rights to the name of a long-standing credit union real estate institution appears to pit a mortgage consultant within one of the institution's chapters against the leading provider of private mortgage insurance for credit unions.
The State of Arizona moved in last week to assume control of PMI Mortgage Insurance, one of the two shareholding companies of CUNA Mutual Group Mortgage Insurance, the leading mortgage insurer for credit unions in the U.S.