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.
CMG Mortgage Insurance Co. said that a recent action by Arizona’s Department of Insurance placing PMI Mortgage Insurance Co. under supervision will not impact the firm’s new business originations or servicing of existing policies.
Letter to regulators urges relaxation of 20% down payment requirement.
New Hampshire CU's HLPR program offers lower interest rates, low down payments and no mortgage insurance requirement.
The battle over what sorts of mortgages will eventually qualify as qualified residential mortgages got bumped up a notch last month when a mid-year Realtors meeting came out strongly against the current proposed definition.
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.