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Friday, October 31, 2014
Supreme Court to Hear Key Mortgage Case
WASHINGTON — The Supreme Court is slated to hear arguments Tuesday in a case that could determine when and how borrowers are allowed to cancel their mortgages.
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The Mortgage Bankers Association is honoring Pentagon Federal Credit Union in Alexandria, Va., for providing affordable housing and post-deployment assistance to military families and war veterans. more »
The GSE regulator's second attempt to stimulate the mortgage market is receiving a lukewarm reception from lenders, who remain gun-shy after being forced by Fannie and Freddie to repurchase billions of dollars in soured loans since 2008. more »
Regulators recently offered a rare behind-the-scenes glimpse of what areas they are targeting for enforcement, saying that potential fair lending violations and how mortgages are priced and serviced remain top priorities for the future. more »
WASHINGTON — The merger agreement between the Federal Home Loan Banks of Seattle and Des Moines contains a little-noticed provision that would force one of them to pay a $57 million penalty if it break off talks. more »
The Federal Financial Institutions Examination Council released its annual Home Mortgage Disclosure Act dataset on Monday for the 2013 calendar year. more »
Regulator priorities used to be somewhat clear – making sure lenders were originating and servicing residential mortgage loans in accordance with applicable requirements. But more recently the focus has been on fair lending and disparate impact. more »
BEAVERCREEK, Ohio — Though the refinance boom is over and several mortgage giants are reeling as originations decline, some credit unions are thriving as they tap into a new source — first-time home buyers. more »
National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions. more »
WASHINGTON — Credit unions and community banks are pushing back against a plan unveiled by the Federal Housing Finance Agency this week to restrict membership in the Home Loan Bank System. more »
WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process. more »
EAST HANOVER, N.J. — Symbionce Financial Solutions LLC, a credit union service organization that offers mortgage services to CUs, on Thursday was ranked number 945 on Inc.magazine's eighth annual Inc. 500|5000. more »
LAGUNA HILLS, Calif. — As if credit union mortgage lenders did not have enough to contend with already, the Consumer Financial Protection Bureau has proposed numerous changes to the way home loan data will be collected — and possibly reported publicly. more »
CHICAGO — Mortgage delinquency rates declined by nearly 20% to a national rate of 3.46% in the second quarter from a year earlier, according to a report from TransUnion LLC. more »
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evolve FCU celebrates Int'l Credit Union Day
evolve FCU, El Paso, Texas, produced this video showing how they thanked their members on International Credit Union Day 2014.
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