Deposit growth and new loans have helped Alabama Telco Credit Union start the first half of 2013 on strong footing.
A housing finance reform bill unveiled by House Republicans July 11 would wind down Fannie Mae and Freddie Mac and also contains a number of regulatory relief provisions, including tweaks to the CFPB’s qualified mortgage rule and exam reform.
Purchase brings to 32 number of branches in Houston area for $2 billion Lake Jackson, Texas, credit union.
Credit union continuing to grow commercial loan business.
Personnel moves follow growth doubling in 2012 and continuing in 2013 for Michigan Business Connection LLC.
Credit unions facing a lack of available and affordable mortgage loan professionals should not look for the staffing challenge to ease anytime soon, according to housing finance executives and consultants.
Quarterly report cites improving economic conditions, "meek lending environment."
The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.
CEFCU, Peoria, Ill., announced that a record extraordinary dividend of $9 million has been distributed to CEFCU members. The dividend was based on members’ savings and loan activity during, with $4.5 million going to borrowers and $4.5 million going to savers.
CFPB final mortgage servicing rule hits slightly more than 200 of 6,900 federally insured credit unions.