The bulk of credit union and CUSO mortgage programs will see minimal impact from Fannie Mae and Freddie Mac limiting the secondary market to only qualified mortgages, according to credit union and CUSO executives.
Not much impact seen from Fannie Mae, Freddie Mac decision to buy only qualified mortgages after Jan. 10, 2014.
Two credit unions, NASA Federal Credit Union and Navy Federal Credit Union, are offering members mortgages without requiring any down payment or mortgage insurance.
Navy Federal, NASA FCU have different philosophies, same approach to dealing with risk from mortgage loans with no down payments.
Depositors at Coastway Community Bank, a $310 million bank in Cranston, R.I., that used to be Coastway Community Credit Union, approve mutual holding company.
With the fate of Constitution Corporate CU now sealed, NCUA made good this week on its pledge to hold a town hall meeting for CEOs of Connecticut CUs in a Q&A session conducted by the state's top regulator, Howard Pitkin.
The three corporate credit unions placed into conservatorship Sept. 24 bring the total of seized corporates to five. Operations will continue at all five corporates.