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.
Though a little weaker than residential real estate, reports on sales and leasing of nonresidential real estate are still mostly positive.
After six years of stagnation and economic hardship, Florida is slowly coming out of the recession cocoon.
While it might have been a surprise to most in the member business lending world when word came that the seven-year-old Northeast CUSO would be shutting down, the timing actually could not have come at a better time.
Sometimes things you didn’t think would affect you sneak up on you by surprise, whether out of nowhere or ignorance or you’re merely preoccupied with other things.
Dodd-Frank and credit unions, executive pay disclosure and why can't credit unions get some congressional kick?
After a year-long re-examination of its MBL operations, Northeast CUSO will close shop and distribute capital to its six credit union owners.
The industry saw gains in lending, loan quality, membership, net worth and assets.