Proposal requiring member FIs to maintain 10% of assets in residential mortgages is unpopular.
RealtyTrac predicts a “boomerang wave” as seven-year credit repair period comes to an end.
Session comes as modifications are set to go into effect Aug. 1.
The Supreme Court TILA disclosure ruling will not affect credit unions that already follow TILA best practices.
Wells Fargo and JPMorgan Chase receive order to pay $35.7M in penalties for illegal mortgage kickbacks.
Generation of $22B in credit union auto loan balances helps CUSO grow in 2014.
Equifax reports auto loans at an all-time high at $975B in 2014.
If lenders follow TILA best practices and perform post-closing audits, the Supreme Court ruling shouldn't require action, one credit union CEO opines.
The $1M Faith Based FCU makes national headlines for providing a member with payday loan relief.
Credit unions can acquire auto loans and mortgages from other financial institutions.