As financial institutions race to lure “Gen Y” consumers, a new report from the Filene Research Institute finds what that generation needs most, is what credit unions do best.
Northwest credit union lenders are concerned the CFPB’s Qualified Mortgage Rule will have the unintended consequence of squeezing Americans out of home ownership. The House Financial Services Subcommittee on Financial Institutions heard testimony from the credit union movement this week.
The CFPB has issued two final rules updating mortgage rules. One delays implementation of the rule prohibiting financing insurance premiums on transactions insured by dwellings. The other facilitates access rules exemptions for small creditors, community development lenders and housing stabilization programs.
Seven agencies issued a joint rule this week requiring lenders to perform an appraisal on all higher-priced mortgage loans prior to extending the loan.
A rule issued today by the CFPB today that protects consumers from certain irresponsible mortgage lending practices and requires lenders to ensure homebuyers will be capable of repaying the mortgage also includes some safe harbors and exemptions for credit unions.
CMG Mortgage Insurance Company is offering a two-day intensive session in Beaverton, Ore., on Sept. 12-13, which will help credit unions more effectively originate, process and underwrite first mortgage loans to current secondary market standards.
The Federal Housing Finance Agency announced changes to the Home Affordable Refinance Program to attract more underwater borrowers who could benefit from refinancing their home mortgages.
This Washington legislative update expands on the Washington State JLARCâ€™s recent recommendation to continue the state-chartered credit union B&O tax exemption.