On Thursday, the Senate Banking Committee will hold a hearing to discuss the implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act. See what else is happening in the Week Ahead.
Read More »Could Interest Rates Get Even Lower?
New authorization from the National Credit Union Association could mean borrowing from a credit union could be more beneficial than before. However, could this make already low interest rates slip more?
Read More »Q1 Reports Bode Well for National Credit Unions
As both current homeowners and potential homebuyers are settling more into their prospective communities, turning to federally-insured credit unions for their mortgage and banking needs has become a viable option. On Monday the National Credit Union Administration (NCUA) released its 2017 Q1 call report data, which reports growth all across the board for federally insured credit unions. Dan Berger, the President and CEO of the National Association of Federally-Insured Credit Unions (NAFCU) attributes the overall growth first and foremost to growing membership, which rose 4.2 percent, over 4.3 million more members than were registered a year ago.
Read More »Feds Update Rules for State-Run Appraisal Management Companies
Six federal financial regulatory agencies Thursday issued minimum requirements for state registration and supervision of entities that provide appraisal management services to lenders, underwriters, and other principals in the secondary mortgage market.
Read More »NAFCU Voices Support for Proposed Legislation
The bill includes a report provision, which will delay the implementation of the NCUA’s proposed risk-based capital regulation as it relates to mortgage servicing assets until an impact study is conducted. The NAFCU says this will promote transparency, require a thorough analysis of the proposal’s impact on mortgage servicing assets, and encourage the NCUA to take more time to consider the full impact of its proposed capital rule.
Read More »NCUA Targets Deutsche Bank in Securities Trust Suit
In a lawsuit filed earlier this week, the National Credit Union Administration (NCUA) charged Deutsche Bank National Trust Company with negligence in its role as trustee for 121 residential mortgage-backed securities (RMBS) trusts, leading to the collapse of five corporate credit unions.
Read More »Credit Unions Report Slowdown in Q1 Originations
Credit unions continued to grow during the first quarter of 2014, although higher interest rates slowed mortgage originations, according to the National Credit Union Administration (NCUA). The group reported that the pace of mortgage originations slowed in the first quarter, down to $42.6 billion in Q1 2014 from $102.9 billion in the first quarter of 2013.
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