News

NEW YORK - Starting in June, community development credit unions will have a new tool to help them make home loans to members with less than perfect credit. The CDCU Mortgage CenterT-the mortgage provider for over 220 member CUs of the National Federation of Community Development Credit Unions- has partnered...

NEW YORK-As part of its increased advocacy efforts to state legislators, the New York State Credit Union League (NYSCUL) has begun a credit union awareness campaign through a series of billboards along key stretches of highway in the Albany area and by airing local radio spots. League members from around...

WASHINGTON - Despite an overall decline in mortgage originations, adjustable-rate mortgages (ARMS) and interest only products made up 63% of mortgage originations in the second half of 2004, results of the Mortgage Bankers Association's Single-Family Mortgage Activity Survey. ARMs originations were split almost evenly between traditional ARMs (53%)- the interest...

WALNUT CREEK, Calif. - When it comes to mortgage lending, seven of the top 10 riskiest metropolitan areas are in California, according to the PMI Spring Risk Index. According to the report, the Oakland area has a 49% chance of property values decreasing. San Jose follows with 48%, and San...

WASHINGTON - The combination of skyrocketing housing prices, lower wage growth and rising interest rates coupled with the growing necessity for lenders to be able to offer borrowers dealing with affordability challenges with more mortgage options have prompted Fannie Mae to expand its 40-year fixed-rate mortgage program nationwide out of...

HERNDON, Va. - CU Realty of VA, MD, DC LLC can never be accused of getting off to a slow start. In its first three months of business, CUR LLC generated $7 million in real estate transactions, secured more than $4 million in mortgages, and paid more than $73,000 in...