TALLAHASSEE, Fla. -- Despite all the bad press mortgage-backed securities have received--or actually, because of it--some credit unions are snapping up the controversial investments, which many think are presently undervalued.

SEATTLE -- According to a white paper that will be presented here Oct. 16, not only could the credit union industry organize and capitalize its own secondary mortgage market, initial programs could begin as early as second quarter 2009.

NEW YORK -- Standard & Poor's delivered bad news to Western Corporate FCU and Members United Corporate FCU on Sept. 30, placing both institutions on CreditWatch with negative implications.

SAN DIMAS, Calif. -- Western Corporate's Vice President of Economic and Market Research Dwight Johnston said recent affordability figures suggest Southern California's residential real estate market may be settling back down to historic norms. However, he cautioned against too much optimism, saying normal isn't guaranteed.

PLANO, Texas -- Despite tight budgets at credit unions and bad press from S&P, Southwest Corporate's Economic Forum isn't suffering any. Registration for the October 28 and 29 event has already exceeded last year's attendance.

NEW YORK -- Standard & Poor's Credit Analyst Robert B Hoban Jr. said negative ratings watches don't mean corporate credit unions are in jeopardy of the free-fall ratings downgrades other institutions have received in recent weeks.

CENTENNIAL, Colo. -- Centrix successor Peak5 is hoping one of two potential merger deals go through, so it can avoid raising rates or going out of business by year-end, said CEO Kevn Barry.

NEW YORK -- Standard & Poor's released its corporate credit union rating review that delivered bad news to Western Corporate FCU and Members United Corporate FCU, placing both institutions on CreditWatch negative.