Credit unions and other housing finance lenders face an economic pinch as rising interest rates squash demand for refinanced mortgage loans while demand for purchase money loans still struggles to grow.
A CUSO created to help a credit union manage foreclosed property has begun to play a role in a city’s economic redevelopment.
Los Angeles-area credit union has seen an uptick in purchase mortgages after teaming up with CUSO.
The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
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.
Real estate, underwriting and loan processors all can make the move into loan origination, PFS Funding founder Joseph Parsons says.
Credit union's real estate arm opens new office in Columbia, Md.
Texas credit union says mortgage loans tripled from 2011 to 2012.
North Carolina credit union launches service that also will work with real estate professionals and contractors to sell or remodel and rent homes.
The second-largest credit union in the nation has opened a firm to help it manage real estate on its books in the wake of the Great Recession.