Credit Union Times | Accurate and Timely CU News

Special Report: Mortgages

By Staff Writer

Record-low mortgage rates over the past 16 months have not only fueled CUs' mortgage portfolios, but also boosted their fee income and lowered their cost of funds. Read more on this and other mortgage news on pages 18-20.

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Low Mortgage Rate Environment Feeds CUs' High ROA

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NCUA Reiterates Appellate Court Rulings on Mark-Ups

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January 28, 2003

NASCUS Mulls Possible Affinity Program with Fannie Mae

ARLINGTON, Va. - The NASCUS leadership is exploring the possibility of implementing an affinity agreement with Fannie Mae for state-chartered credit unions, similar to the ones NAFCU has with Fannie Mae and which CUNA has with Freddie Mac. NASCUS Vice President, National Advocacy Jonathan Lindley said Fannie Mae took the...

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January 28, 2003

Prime Alliance Celebrates Second Anniversary with Quadrupled Loan Volume

TUKWILA, Wash. - By most economists' estimates, the refi boom of 2002 and the period of record-low mortgage rates are beginning to wind down, but not before Prime Alliance Solutions closed its second year in business with nearly four times the mortgage loan volume it did in its first year...

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January 28, 2003

Prime Lenders See Mortgage Fraud Problem Growing

RESTON, Va. - The latest report from the Mortgage Industry Research Institute shows half of all mortgage lenders believe fraud is rising moderately or significantly. As if seeing more incidents of mortgage fraud wasn't bad enough, lenders say they're also experiencing higher costs each time fraud hits. The report, which...

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January 28, 2003

British MP Sees Credit Unions as a Solution to Indebted Poor

LEEDS, U.K. - John Battle, the Labour Member of Parliament (MP) from Leeds, is worried about the three million English who are living in poverty and subject to doorstop lenders, the British term for predatory lenders. In a country with a population of approximately 50 million people, Battle sees credit...

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January 21, 2003

Special Report: Data Processing & Technology Stats

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January 21, 2003

Out of the Ashes

The failure of Eastern Airlines didn't sink its primary CU, which is now in the billionaires club. The CU's CEO Kent Herbert is now leading Eastern Financial Florida CU into a new era. Page 30.

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January 21, 2003