Oct. 20, 2008


  • I wish every person in America could read this article. It has certainly made me more optimistic about America's future.
  • Well done!
    Brenda Crane
  • I fully agree with the CU Housing Roundtable's goal of CU's capturing 10% of the mortgage market by 2014 and they're are already off to a great start in 2008.
    Mark Berkowitz
  • Mr. Filson is justified in feeling proud of the Housing Roundtable's initiatives. Credit unions acting locally can be a very constructive factor.
    Marvin Umholtz
  • Article good but misses several important points: 1) Even though many CUs do not sell their mortgage loans in the secondary market, it still does not hide the fact that the underlying assets backing those loans (your and my house for example) are losing value rapidly. 2) You rightly say that "the core of the problem is still very local - helping the individual consumer pay their current mortgage" but apart from enthusiasm, have nothing to offer on how this will be achieved. Will the roundtable be able to bring back jobs to America that went to China? Will it be able to stem the rot in our education system so our kids can get good jobs? Combat drugs? Teenage pregnancies? Mr. Filson, there are two sides to the mortgage crises: overvalued asset prices (that many CUs are carrying on their books) and the underlying side: people cant pay mortgages not because the interest rates are high but because they dont have jobs. Did the roundtable have anything more to offer than enthusiasm on how to overcome these issues? I didn't think so. Sincerely, Will Usuk First United Federal Credit Union Grandville MI
    William Usuk