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The Florida cooperative uses direct mail and digital techniques, plus a guarantee of 2 percentage points less than the member is paying now.
By offering both in-school and refinance lending, credit unions can appeal to members at multiple stages of life and establish a genuine opportunity for long-term relationships.
HMDA data reveals who is, and who isn't, taking out mortgages.
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Redstone Federal Credit Union combines risk and reward in its counseling-lending program and casts a wary eye at proposed CFPB changes in short-term loan regs.
Low rate environment and soaring student debt lead to growing refinance boom in student lending.
Home equity lines of credit are drawing renewed interest among banks and credit unions as housing prices rebound amidst consumer confidence.
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Making it easy to modify loans increases yield and revenue while building loyal relationships to last beyond the original note.
Not all dark waters as TRID changes take effect and HMDA changes announced, but much work remains.
How Star One’s 14-month-old mortgage product attracts both young professionals and soon-to-be retirees.
Rising wages, employment may be greeted by rate hikes as Fed works to direct economic harmony.
When indirect lending margins at Orange County’s Credit Union started to shrink, the $1.2 billion cooperative injected life into its auto portfolio with a new focus, a fresh marketing campaign, and different metrics.
Credit unions encourage refinancing with friendly competition and enticing offers.
A monthly collection of Callahan content that, together, addresses a single topic from a variety of perspectives.
When demand for refinancing subsided, two credit unions spun off their programs differently using the same concept.
How credit union mortgage departments can rethink their strategies to survive in a market with decreased refinancing opportunities.
Rising rates have stifled mortgage originations at the national level. But which states are bucking that trend?
The time has come to help young adults saddled with onerous private student loan debt.
Credit union first mortgage originations beat 2012’s record pace through the first nine months of 2013.
Four state realtor associations talk about the housing market in some of the country’s most active regions for credit unions.
With the extension of the federal government’s HARP deadline, credit unions like Desert Schools are continuing to find refinancing success.
At Heritage FCU, a niche product turns first mortgages with low balances into home equity loans.
Financing properties for renovation requires a thorough understanding on behalf of borrowers.
With a two-year program extension and a wealth of new resources at their fingertips, credit unions can continue to successfully meet borrowers' needs through HARP.
Uncover real strategies to increase your credit union’s purchase mortgage business.
Credit unions must focus on how to evolve this crucial business moving forward.
Star One Credit Union's real estate modification program lowers rates quickly and efficiently.
Publically available data provides market intelligence to help credit unions compete.
The scrutiny that the recent mortgage lending collapse created makes compliance in this area more important than ever.
The Arizona-based credit union expands its back office and looks past HARP and refinances to achieve even greater success in 2013.
Each mortgage modification a credit union makes to help members avoid foreclosure keeps the housing market in better health.
Credit unions are triggering local economic rebounds in housing, employment, and small businesses.
With so many loyal members being impacted negatively by the economy over the past few years, Directions Credit Union found itself making more loans in the lower credit tiers. Instead of simply giving members a higher rate loan, the credit union decided to help members get back on the right track.
Credit unions should help members manage the money they save from refinancing their mortgage.
Saving members money through refinance challenges has become a trackable industry trend that grows loan portfolios.
Consumers have emerged from the economic downturn with new power and are contributing to record financial figures.
With a housing market rebound likely to continue, credit unions can start to think about how to create new mortgage lending service.
Educators Credit Union is now aiming to help members save $30 million in 2012 after exceeding its $20 million goal.
State Department FCU’s in-house legal counsel drives a double-digit increase in recoveries and shortens collection turnaround time.
As Bank of America tests a unique foreclosure management program, credit unions can consider if a similar rental solution would work for them.
Library of Congress FCU’s mad promotion helps it book nearly $2 million in auto loans.
First New England Federal Credit Union and its CUSO lay the groundwork for additional rounds of refinance assistance.
Credit unions made at least 20% of the mortgage loans in 17 markets across the United States, including in New York, Michigan, and Alaska.
Two successful loan promotions in 2011 reinforce the idea that solutions sell better than products.
Changes to Fannie Mae and Freddie Mac may have a significant impact on the credit union industry, which is becoming a larger player in the mortgage market.
Callahan & Associates’ senior analyst Lydia Cole describes the latest mortgage trends in the credit union industry.
Credit unions have greater flexibility to help underwater borrowers with Government-Sponsored Enterprise backed loans.
The Ohio-based credit union encourages members to "simplify and save" and scores stellar refinancing growth in the second half of 2011.
Superior Federal Credit Union granted 25% of mortgages in Lima, OH, in 2010.
An examination of credit union and bank modification trends.
President Obama’s new housing refinance plan would trigger more modifications for credit union members.
A summary of key provisions of the proposed action with commentary on what the rule will mean for credit unions.
The New York-based credit union has an “aggressive” incentive program that Brenda Carhart, senior vice president of lending for Empower, says has paid off.
Opportunities for underwater borrowers to refinance could increase through revisions to a government program.
Credit unions might try to focus more on refinancing auto loans as more members hold on to their old vehicles.
In this third quarter 2011 Trendwatch clip, Jay Johnson of Callahan & Associates discusses the possible impact HARP 2 will have on the cooperative movement in 2012.
Credit unions have the opportunity to refinance between 1 million and 4 million mortgage loans.
Fort Worth Community Credit Union’s three-year-old program has helped boost its auto loans by 37% in the third quarter.
Cooperative solutions make home ownership an affordable American dream.
Douglas Fecher of Wright-Patt Credit Union reminds nation that co-ops, with their community-focused mission, can save members millions in refinancing.
Credit unions should seize this prime time to help members overcome loan hurdles.
How can credit unions use the drops in 30- and 15-year fixed mortgage rates to deepen member relationships?
McGraw-Hill Federal Credit Union thrives because of its strong products and determination to save members money.
Credit unions can help erase refi frictions for members and put more money in member pockets.
Credit unions are generating solutions that boost local economies.
The recession has been a test for cooperatives, and now the movement transitions toward a positive future.
A 5-year perspective on how credit union lending has changed.
The $952 billion cooperative industry sneaks past the thrifts for the first time.
The industry responded to member need in 2010 and positioned itself for the tremendous opportunity for the coming year.
Achieving success on and off the balance sheet is possible but requires strategic positioning.
What lessons have borrowers learned from recession?
More than 85% of mortgage applications were for refinances during the peak of the refi boom. Now it’s less than two-thirds. How can you prepare for the decline?
Credit union mortgage modifications keep the dream of home ownership alive in North Carolina.
The last three months of 2010 broke records and set the pace for a promising 2011.
Solid pricing and a time-tested strategy helped Star One Credit Union generate loan growth in 2010.
Three sectors of the U.S. economy bring a sense of optimism and highlight opportunity for credit unions.
Key metrics illustrate the climate of real estate lending.
One Iowa credit union is using refinancing to help members. But there’s a twist.
The economy is coming back to life, and hard work and productive solutions have been critical along the way.
Credit unions can draft big plans for 2011.
Credit unions offer a path of least resistance for borrowers getting the refinance runaround. Here are three steps to determine your credit union’s lending possibilites.
This time of year there is much to be thankful for, as evidenced by last week’s business headlines.
Performance of the loan portfolio shows how credit unions are helping members and the economy.
Bethpage Federal Credit Union is passing economic opportunities on to everyday consumers.
Voters are looking for results. Delivering on that need could make credit unions a potent political force.
For the unemployed willing to move for work, a house that won't sell can be an unshakable burden.
National reports and local initiatives illustrate how responsible financial institutions help members save money, spend wisely, and jump-start economies.
Credit unions help American consumers living paycheck to paycheck take advantage of historically low rates and reinvigorate the “grassroots” of the national economy.
A spirit of self-help and common effort creates unique value for members and the economy.
Two credit unions serve their members well with refinancing and other value-enhancing programs.
Scratch the surface of today’s financial media for evidence of the economic recovery.
How can you help your members buy now AND save later?
Current positioning within the credit union system means putting cash in members’ pockets is crucial to the well-being of both member and institution.
How two credit unions are putting hundreds of dollars back into their members' wallets and spurring local economic activity.
The world is watching. A phrase from the '60s that is applicable to upcoming credit union events.
Wright-Patt Credit Union has seen members affected firsthand by the economy, but the credit union has helped members, improved credit union revenue, and shown how America can get growth started.
This edition is brought to you straight from the corporate communities that use this holiday to have a little fun and show some personality. And from the letters C and U.
The Refi Boom is over. Now, credit unions must start looking at the purchase market to increase market share in 2010.
First mortgages, partially driven by the first time home buyers tax credit, dominate mortgage lending in early 2009.
Tower Federal Credit Union did not see the Refi Boom coming, but they were ready for it when it came.
Tower Federal Credit Union did not see the Refi Boom coming, but they were ready for it when it came.
It may be a good time for your credit union to seek out opportunities … but tread cautiously. Pay close attention not only to meeting regulatory requirements for mortgage programs, but also to current market changes that affect your balance sheet.
According to the Congressional Oversight Panel, more Americans are losing their home in foreclosure each month than left New Orleans after Hurricane Katrina. In 2008 alone, the foreclosure crisis has had the force of a dozen Hurricane Katrinas.
Starting with the September 30, 2008 call report, credit unions were required to report their loan modification efforts. The data show that not all credit unions are reporting modifications and delinquency the same way but it does point to a growing challenge facing the industry. Here’s a brief look at the numbers in 5 easy-to-understand charts.
We interviewed a number of mortgage executives at credit unions across the country for any upcoming event we’re hosting on May 6th. Here are 6 tips they’ve offered so far.
Wright-Patt Federal Credit Union, BECU, and Tower Federal Credit Union talk about how they're responding to the lending market.
Understanding the difference between a restructure versus a troubled-debt restructure is critical in an era of rising real estate delinquencies and foreclosures.
Erin Krause from Northwest FCU discusses how her credit union was able to gain member loyalty in this troubled economy.
3Q Mortgage Data: Real Estate Purchase Index, Real Estate Refinance Index, Credit Union 1st Mortgage Originations, 1st Mortgage Originations CU Volume and Market Share, 1st Mortgage Delinquency: Credit Unions vs. Banks
The size, scope and speed of changes to the financial services market that took hold between July and September of 2008 were unprecedented.
The ‘credit crunch’ became a ‘credit crisis’ in the third quarter, with consumers finding it increasingly difficult to obtain both mortgage and consumer loans. However, preliminary third quarter data indicates that credit union first mortgage lending activity is up 24 percent year-to-date versus the first nine months of 2007.
Credit unions are now recording some of the best mortgage lending results ever. Learn five ways your credit union can continue this momentum.
In the midst of an economic squeeze and credit crunch, credit unions posted record lending activity in the first quarter. The credit union difference is evident in the quarter’s results.
Arrowhead Central Credit Union finished 2007 with strong financial results despite its geographic location in the “eye of the storm” – California’s housing bust.
The Fed’s just-released March Senior Loan Officer Opinion Survey reported banks are continuing to tighten mortgage lending standards. Meanwhile, credit unions are reporting double-digit increases in mortgage volume.
First quarter bank results released thus far have been average at best. How are credit unions faring as of March 2008? A “first look” shows credit unions in a strong and active position.
The Fed decreased its target rate by another 75 basis points last week. Along with interest rate cuts, are the Federal Reserve’s other innovative programs having their intended effects? Initial results point to yes.
With the market environment changing almost daily, what key issues should credit unions concern themselves with? Share your thoughts on today’s key issues.
With ARMs resetting and interest rates falling, credit unions can take advantage of the competition pulling back and increase the public perception of credit unions as a primary mortgage lender.
As foreclosures continue to rise, recently released data from the Federal Reserve may help credit unions to identify areas where consumers are most likely to need help with mortgage loans.
Data released last week reported that foreclosure filings across the U.S. rose at a double digit pace. Should credit unions expect more foreclosures in their real estate portfolio?
When conditions align, credit union consistency and reliability shine as an attractive solution as mortgage industry fumbles around in the dark.
With headlines of subprime abuses flooding the front pages of newspapers recently, how are credit unions stepping up and helping members who are struggling with their mortgages?
A patent-pending financial product called the Ratchet Mortgage creates member value by capturing the benefits of refinancing, without transaction costs and traditional rate-shopping.
88 percent of Freddie Mac-owned loans that were refinanced in the first quarter of 2006 were for loan amounts that were at least five percent higher than their initial balance.
Find out how a local housing authority and a credit union are working together to make homeownership an affordable reality for residents in their community.
Even though the refinancing boom is largely over, real estate loans experienced double-digit growth in 2004. Learn how this happened.