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ARTICLES

Minimum Cost, Maximum Efficiency

Why single-premium mortgage insurance makes more sense than ever.
May 19, 2013
No Comments
Single-premium mortgage insurance lowers closing costs for members by allowing them to finance the MI as part of the loan.
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Horizon

More Mortgage Changes on the Horizon

Learn all you can about how your CU must comply with the CFPB’s mortgage regulations.
April 15, 2013
Justin Whitesides
No Comments
The new rules already dominate compliance planning for the next year, but CUs must save capacity for potential disclosure changes.
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Housing Market SM

Lose the Recessionary Mindset, but Monitor Housing Market Closely

Don’t expect new mortgage products to carry the market in the future.
April 13, 2013
Bill Vogeney
No Comments
High liquidity, low rates, and still-steep unemployment make the competitive landscape as challenging as ever.
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Mortgage Lenders Prepare For June 1

Three Reg Z changes precede an avalanche of CFPB rules to implement next year.
April 1, 2013
Colleen Kelly and Valerie Moss
No Comments
The bulk of the new mortgage rules won’t take effect until next year
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Caution

Beware Mortgage Servicing Rule Pollyanna

CFPB mortgage rule exclusion for small servicers is not a free pass.
March 22, 2013
Jonathan Bundy
2 Comments
Collective sigh of relief over small servicer exemption is premature.
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Trendlines

Earnings Back to ‘Normal’ Range

ROA should reach 90 bp this year, but small CUs continue to struggle.
March 7, 2013
Bill Hampel
No Comments
Average net income for credit unions in 2012 will be about 90 basis points of average assets.
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CFPB Adds to Stack of Mortgage Rules

Here’s a six-point overview of the CFPB’s new mortgage lending regulations.
February 28, 2013
No Comments
In mid-January, the CFPB opened the floodgates, and mortgage lending rules began gushing out.
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GAC 2013

Overheard at GAC: How Did You Help Members During the Recession?

CUs offer loan adjustments, tried-and-true service to help members through tough times.
February 25, 2013
No Comments
CUs offer loan adjustments, tried-and-true service to help members through tough times.
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Mortgage almanac sm

Get Your 2013 Mortgage Lending Almanac

Give your compliance manager a work-appropriate hug—it’s going to be a rough year.
February 7, 2013
Jonathan Bundy
No Comments
New rules will recast mortgage lending from application to servicing.
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regulation sm

Compliance Raining on CUs’ Mortgage Parade

Mortgage demand grows at CUs, but so does the related compliance burden.
February 6, 2013
Patrick Totty
No Comments
It is an era of mixed blessings for CUs and consumers.
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May Cover

Credit Union Magazine

• May digital edition

May 2013

heroes

What's Popular

Popular Stories

Finovate Highlights Industry's Best and Brightest

Look into the Future of Finance

Scenes from FinovateSpring 2013

Scenes from the 19th Annual CUNA CFO Council Conference

Gladwell: CUs are David to Banks’ Goliath

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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