News

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.

WASHINGTON - The record low interest rate environment over the past 16 months was not only good for credit unions' mortgage portfolios, it also lowered their cost of funds and boosted their Return-on-Assets to record highs. "The very thing that caused high volumes of refinancing - record low mortgage rates...

ALEXANDRIA, Va. - NCUA reminded federally insured credit unions in the seven states that make up the Fourth Circuit and Seventh Circuit that because recent appellate court rulings decided that "mark-ups" - the practice of charging a consumer more for a third party's settlement services than is actually paid to...

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...

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...

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...