Proposed changes to the CFPB's QM rule don't go far enough.
Proposed tweaks to the points and fees cap is a nice gesture, but won't do much to help credit unions.
California credit unions are seeing revived demand for home equity loans and lines of credit.
Higher home prices have brought back demand for home equity products.
From refinancing to new money mortgages but market overall continues to struggle.
Credit unions and other mortgage lenders faced an economic pinch in 2013 as rising interest rates began to squash demand for refinanced mortgage loans while demand for purchase money loans still struggled to grow.
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.
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.
The biggest obstacles to credit unions launching or growing a housing finance program are lack of staff, concerns about compliance and a lack of leadership from the highest executive levels, according to credit union executives and housing finance consultants.