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Articles Tagged with 'loan'

Restructuring Troubled Debt

August 25, 2009
Can you spot the troubled debt restructuring in these scenarios? READ MORE

CU Embraces 'Make Sense' Approach to Lending

June 23, 2010

When Lyle Wermund determines whether to modify a mortgage, he asks one key question: Does the loan make sense?

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FBI Mortgage Fraud Takedown Nets 500 Arrests

June 25, 2010

“Operation Stolen Dreams” has led to 485 arrests, 330 convictions, and the recovery of $11 million.

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A Tale of Opportunities

August 30, 2010
How might Charles Dickens's sage narrative apply to credit unions today? It's easy to focus only on the difficulties credit unions face right now. Afterall, there are many reasons for gloom. READ MORE

Loan Modifications and Refinancings Continue to Increase

September 17, 2010
More than half of completed loan modifications in the second quarter lowered borrowers' monthly payments by more than 30%. READ MORE

Student Loan Default Rates Increase

September 21, 2010
U.S. Secretary of Education Arne Duncan announced that the fiscal year 2008 national student loan default rate is 7%, up from 6.7% as of fiscal year 2007. READ MORE

Lender Pleads Guilty in $80 Million Ponzi Scheme

September 22, 2010
A 40-year-old Lakeville, Minn., man pleaded guilty in federal court to operating a Ponzi scheme that defrauded at least 17 lenders out of $79 million. READ MORE

Five Plead Guilty to $5 Million Mortgage Fraud

November 16, 2010
Fraudsters built homes that were appraised for significantly more money than they were worth, sold to straw buyers, and eventually placed in foreclosure. READ MORE

Community Partners and Leaders

December 01, 2010
Get involved and understand your community values, CUs say. READ MORE

Performance of Modified Loans Improves

December 21, 2010

Loans modified during the last three quarters are performing substantially better three months after modification, compared to loans modified in earlier periods.

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Credit Union Magazine

• May digital edition

May 2013

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Recent Discussion

In remembering Warren, the first thing I think of was his smile. He was a gentle, caring man who always thought of others first. I was honored to be a part of the MiOpportinidad project with Affinity Credit Union, Warren and Miriam. His hard work and dedication to that project was inspirational. Warren so deserves this award.

The author really understands the credit union philosophy and I really enjoyed the analogy of his bathroom remodel. The only thing missing was pictures of the finished bathroom! :)

Thank you Phillip for showing the differences between a Big Bank that is only looking to sell you products and a Credit Union that actually looks out for its members needs. Great article!

I love and give a standing ovation to Ron Kase and to other caring people just as much as those who passed away on 2012 like Warren Morrow at Des Moines Iowa. He worked hard for those who are under-served an under-represented, but wasn't mentioned in your magazine. It may be beneficial for the entire world to know about his accomplishments no for his benefit, obviously, but to increase the number of positive and caring people and to add members the CU. Just ask Coopera Consulting at Des Moines Iowa about Warren Morrow's legacy.

That’s right Lisa. The servicing rule would not require a credit union to create its own policies and procedures if all aspects of the servicing are delegated to a sub-servicer. However, remember that the credit union will have to conduct due diligence on the sub-servicer to make sure it is following the minimum requirements for policies and procedures. Unfortunately, even those credit unions that use a third party servicer will need to have a working knowledge of the CFPB’s servicing rule.

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