Search
 

SECU Launching Second Version of Loan Modification Program

The $22 billion State Employees' Credit Union has begun to prepare for what it expects may be a significant increase in the number of members seeking mortgage loan modifications.

By David Morrison | Updated on March 03, 2011

The $22 billion State Employees’ Credit Union has begun to prepare for what it expects may be a significant increase in the number of members seeking mortgage loan modifications.

The credit union is renewing the Mortgage Assistance Program that it launched in January 2009 to help members who may face job losses because of state budget cuts in North Carolina. The original MAP program helped 7,000 members and kept the credit union’s default rate on mortgage loans to below twenty basis points as of fall of 2010.

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?

Dig Deeper

 

Recommended Stories

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.