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Credit Union Journal

Saturday, February 4, 2012, as of 03:56 AM EDT

Mortgages

Mortgage Rates Drop Again To New Lows

Feb 03

WASHINGTON – Long-term mortgage rates fell again to record lows this week, according to Freddie Mac.

Fixed-Rate Mortgage Rates Rise From Record Lows

Jan 27

WASHINGTON – The average rate on the 30-year fixed-rate mortgage jumped this week to 3.98%, from a record low of 3.88% last week, after data showed improvement in the housing market, according to Freddie Mac.

Mortgage Rates Fall To New Lows

Jan 20

WASHINGTON – Rates on the 30-year fixed-rate mortgage hit another low this week, averaging 3.88%, according to Freddie Mac.

Wisconsin Senate Passes CU-Backed Expedited Foreclosure Bill

Jan 18

MADISON, Wis. – The state Senate voted yesterday to approve a bill aimed at putting abandoned properties back on the market faster , as quickly as five weeks, rather than the two months now required by law.

CUNA Mutual Sues Wall Street Bank Over $72 Million In Failed MBS

Jan 18

MADISON, Wis. – In the latest punch-up over the crash in the mortgage market, CUNA Mutual Group has filed suit against RBS Securities and asked a federal court here to order the Wall Street bank to buy back $72 million in failed residential mortgage backed securities it sold to the credit union insurer’s MEMBERS’s Life Insurance Co. and CUMIS Insurance Society units.

Affinity Plus FCU In $140-Million Loan Participation Deal

Jan 18

ST. PAUL, Minn. – Affinity Plus FCU has sold $140 million of residential first mortgage loans through a participation deal engineered by Mortgage Liquidity Solutions, a start-up Denver CUSO Affinity Plus partially owns.

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