Lending

It's axiomatic that credit unions and other mortgage lenders don't want to foreclose on houses. They are not in the real estate business.

As interest rates have dipped and more CUs have opted to sell their mortgages onto the secondary market, they have faced a dilemma: will they or won't they sell the servicing rights?

Low yields, a "back to the drawing board" rethinking of how income statements are managed and new challenges to the credit union business model have left some wondering how to navigate through it all.

All credit unions that originate mortgages should have at least a procedure in place for what do when some or most of those mortgage borrowers get into trouble with their loans.

As credit unions budget for 2011, many financial managers are searching for revenue sources, as traditional money makers like consumer loans and investments still aren't performing to historical norms. Business services and innovation may be the answer.

There should be a thorough investigation of problems with the foreclosure process but no moratorium, White House spokesman Robert Gibbs said today.