mortgage products

• Two California CUs to Merge

  By Staff Writer  |  May 29, 2013

  Tehachapi Federal Credit Union and Kern Schools Federal Credit Union last week announced that they will merge.

• Kern Schools FCU Takes In $1.9 Million Tehachapi FCU

  By Peter Strozniak  |  May 21, 2013

  California consolidation adds 383 members to Bakersfield credit union.

• NAFCU Survey: Most CUs Will Reduce or Discontinue Non-QM Mortgages

  By Heather Anderson  |  May 15, 2013

  Survey also finds that more than one-third of credit unions originated mortgages in 2012 that would not fit under new rule.

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  No Money Down Mortgages Stage a Comeback

  By David Morrison  |  March 27, 2013

  Two credit unions, NASA Federal Credit Union and Navy Federal Credit Union, are offering members mortgages without requiring any down payment or mortgage insurance.

• Two Credit Unions Offering No Money Down Mortgages

  By David Morrison  |  March 14, 2013

  Navy Federal, NASA FCU have different philosophies, same approach to dealing with risk from mortgage loans with no down payments.

• New Mortgage Rules Make Documentation Biggest Challenge

  By Heather Anderson  |  January 23, 2013

  Because credit unions already generally abide by new final qualified mortgage and ability-to-repay rules released Jan. 10 by the Consumer Financial Protection Bureau, the most difficult compliance burden will be to document the process, said John Bundy, compliance manager for CUNA Mutual.

• Proposed QM Exemption for Small Lenders Doesn’t Provide Much Relief

  By Heather Anderson  |  January 16, 2013

  Compliance specialists cite shortcomings for credit unions in CFPB's new qualified mortgage exemption.

• Executives Say Billion Dollar Mortgage Month Not a Spike at Navy Federal

  By David Morrison  |  November 21, 2012

  Credit union says it's the crest of a very strong housing year.

• CFPB and FTC Crack Down on Misleading Mortgage Ads

  By Heather Anderson  |  November 19, 2012

  Agencies go after what they said were misleading ads

• Gains in Housing Market Expand Gateway to Credit Unions

  By David Morrison  |  October 31, 2012

  Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.