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Matz Praises NY CUs for Putting "Principles Above Profits," Other High Profile Leaders Second Her Motion

By Staff Writer

NEW YORK-In a guest appearance at the New York State Credit Union League's 85th Annual Meeting and Convention, NCUA Board Member Debbie Matz praised the state's credit unions for remaining true to principles that "have clearly stood the test of time." "Eighty-five years ago," Matz said, "millions of hard-working people...

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May 31, 2005

MBA Data Confirms Popularity of ARMs, Interest-Only Products

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...

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May 31, 2005

California Tops PMI Risk Index, But Credit Unions Not Concerned With Potential for Loss

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...

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May 31, 2005

Fannie Mae Makes 40-Year Mortgages Standard Product to Give Borrowers More Options in High-Priced Housing Market

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...

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May 31, 2005

Three-Month Old Mid-Atlantic Mortgage CUSO Does $4 Million in Originations

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...

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May 31, 2005

ARMs Making Up Larger Portion of Credit Unions Mortgages in Rising Interest Rate Environment

WASHINGTON - Rising interest rates coupled with appreciating home prices nationwide are forcing credit unions involved with mortgage lending to offer members more non-traditional mortgage products. No where is this more evident than in the growing popularity of adjustable rate mortgages (ARMs). In a May 17th Webinar hosted by Callahan...

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May 24, 2005

Special Report: Investments/Trusts

Find out how Kinecta FCU got into the trust services game. Read about that and more trust and investment news on the special report on pages 22-26.

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May 24, 2005

NCUA Meets, Reg Relief Returns

The NCUA Board held a relatively uneventful May meeting, while CUs were given an opportunity to testify before Congress on regulatory relief. Page 3.

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Matz Praises NY CUs for Putting "Principles Above Profits," Other High Profile Leaders Second Her Motion

CDCUs Get Specially-Designed Subprime Mortgage Product

CU Awareness Campaign Hits New York Roads and Airwaves

Recommended Just For You

News Stories

MBA Data Confirms Popularity of ARMs, Interest-Only Products

California Tops PMI Risk Index, But Credit Unions Not Concerned With Potential for Loss

Fannie Mae Makes 40-Year Mortgages Standard Product to Give Borrowers More Options in High-Priced Housing Market

Three-Month Old Mid-Atlantic Mortgage CUSO Does $4 Million in Originations

ARMs Making Up Larger Portion of Credit Unions Mortgages in Rising Interest Rate Environment

Special Report: Investments/Trusts

NCUA Meets, Reg Relief Returns