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Mortgages on Leased Land Not Unusual in Hawaii

By Staff Writer

HONOLULU - At least 30% of homeowners on the island of Oahu lease their land, estimates Karen Kaoihana, Vice President of Lending at Honolulu Federal Credit Union. That number has fallen, the lending VP said, from figures of nearly 50% as recently as 10 years ago. "A lot of land...

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Freddie Mac Crosses $5 Billion Mark in Low-Income Housing Tax Credit Investments

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Nine-Mo. CD at 9% Wins `Best Idea"

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August 16, 2005

CUMEX Mortgage Service Center Adds SingleFileT Mortgage Insurance Program to its Mix

LEXINGTON, Mass. - CUMEX Mortgage Service Center of Lexington has added Mortgage Guaranty Insurance Corp.'s SingleFile program to its menu of mortgage products geared towards new and existing homeowners with excellent credit but who are typically channeled into borrower-financed private mortgage insurance or "piggyback" loans such as an 80/10/10 for...

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August 16, 2005

Directors Rollick Over CU Game Show

LAS VEGAS - They played "Credit Union Jeopardy" at the National Directors' Convention and the hilarious event pitting three CU executives in a version closely matching the popular TV show nearly brought down the house. Complete with the syncopated music and lit up toteboards, the three "contestants" appearing on stage...

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August 16, 2005

Lower than Expected Interest Rates Boost Cash-Out Refinance Activity

MCLEAN, Va. - Continuing low interest rates are spurring higher than expected cash-out refinance activity, Freddie Mac reports. In the second quarter of 2005, 74% of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least 5% higher than the original mortgage balances....

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August 16, 2005

Former Felon Reveals Tricks of the Mortgage Fraud Trade

HUNTINGTON BEACH, Calif. - Want to find the weak links in an institution's fraud prevention safety net? Ask a convicted mortgage fraud felon. Kevin Barnes was once an insider in the industry, working as a loan officer, branch manager and loan broker for 20 years. He became involved in an...

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August 16, 2005

Pedri, Safeway CU Chairman in Colorado, is `Director of Year'

LAS VEGAS - The chairman of a Colorado credit union involved in a financial turnaround several years ago and who more recently helped guide the institution through a planned merger with DPSCU of Denver has been named "Director of the Year." The honors to Bert Pedri, chairman of Safeway Rocky...

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August 16, 2005

Reducing Loan Portfolios Important in Rising Rate Environment, But How to Do it Best?

HUNTINGTON BEACH, Calif. - Credit unions with an abundance of loans have two primary portfolio management strategies: securitization through secondary mortgage companies like Fannie Mae or Freddie Mac, or whole loan sales on the open market. Deciding which strategy is best - or whether a combination of both is more...

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August 16, 2005

Will this Congress be More Successful at Passing GSE Reform Legislation?

WEST PALM BEACH, Fla. - Will the second go-around by the House and Senate to pass legislation that would tighten regulation of the housing Government Sponsored Enterprises be more successful than their first attempt two years ago? Rep. Richard Baker (R-La.) and Senate Banking Committee Chairman Richard Shelby (R-Ala.), coming...

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Top News Stories

Mortgages on Leased Land Not Unusual in Hawaii

Freddie Mac Crosses $5 Billion Mark in Low-Income Housing Tax Credit Investments

Nine-Mo. CD at 9% Wins `Best Idea"

Recommended Just For You

News Stories

CUMEX Mortgage Service Center Adds SingleFileT Mortgage Insurance Program to its Mix

Directors Rollick Over CU Game Show

Lower than Expected Interest Rates Boost Cash-Out Refinance Activity

Former Felon Reveals Tricks of the Mortgage Fraud Trade

Pedri, Safeway CU Chairman in Colorado, is `Director of Year'

Reducing Loan Portfolios Important in Rising Rate Environment, But How to Do it Best?

Will this Congress be More Successful at Passing GSE Reform Legislation?