Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The timing of the annual meeting of the Credit Union Housing Roundtable in 2007 was remarkable in its correlation to the unfolding of the subprime crisis–a crisis that has led to considerable economic turmoil, not only in the United States but throughout the world. Statistics at the time indicated that about one-third of the U.S. mortgage market was effectively shut down. The FDIC had reported that banks had seen the largest increase in late mortgage payments in 17 years, with loan loss reserves up 75% over 2006.

Speaking at that event, I found a silver lining in the cloud, “that credit unions should not be overwhelmed by the news or assume that current market conditions made it impossible for credit unions to expand their mortgage portfolios.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.