News

How are CUs dealing with the changing mortgage rate and lending environment? Turn to pages 20-24 to learn how and read other CU-related mortgage news.

RESTON, Va. - California and Florida no longer have the dubious distinction of being the states with the highest incidence of mortgage fraud. According to a recently released study by the Mortgage Assets Research Institute, Nevada, Georgia, South Carolina, Utah, and Michigan are now in the top ranking spots. The...

These days to be included in the Top 100 credit unions by members listing, a credit union would have to have 100,000 members. Even more exclusive is the number of CUs with more than a million members. There are only two and they happen to be the No. 1 and...

ANNAPOLIS, Md. - Thin may be better when it come to jockeys or magazine models, but a slim credit file poses potential serious problems for consumers when they apply for loans. Take, for example, the member who always pays his bills on time, so he's shocked when he's turned down...

RICHMOND, Va. - The Virginia State Corporation Commission's Bureau of Financial Institutions has strongly advised consumers to "closely scrutinize" any lock-in agreements when they take out a mortgage to purchase a home or to refinance an existing mortgage to lower their monthly payments. This after the state regulator received numerous...

NEW YORK - After offering just one type of mortgage product for the better part of a decade, Actors FCU is rolling out a new loan product it says gives members "greater budgetary security" without opening the credit union to reverse rate risk. Paul Cole, owner of Mortgage Department LLC,...