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.
Borrowers would have to put 20% down on a mortgage in order for the lender to be exempt from the “skin in the game,” rules, according to a proposed rule sent out for comment today by the FDIC and other regulators.
Hudson River Community Credit Union, Hudson Falls, N.Y., promoted Erika Williams to senior financial services officer at its Hudson Falls branch.
The $341 million Consumers Credit Union, headquartered in Kalamazoo, Mich., has become the latest CU to start offering its members mortgages insured by the Federal Housing Administration.
Technology can be both a benefit and a curse. The right system offers today's credit union marketers a wealth of information. But too often, that information is spread out across departmental silos, with little transparency and access.
Credit unions are finding some of their strongest ever growth in mortgage underwriting by combining high-tech outreach with a traditionally high touch approach to service-both to their members and real estate professionals.
Low- and moderate-income members of the $1.2 billion UW Credit Union now have an additional option for getting a mortgage, one which might enable them to obtain a loan underwritten and sold by the credit union.
The $1.2 billion UW Credit Union has announced that it will add a Fannie Mae sponsored mortgage product to its list of loans available to members.
Just a few weeks into his new job as vice president of mortgage lending for the $1.3 billion Community First Credit Union,
Credit union mortgage lenders came off a record breaking year in 2009, but industry executives fear 2010 may not see the same sorts of gains.