Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Filene seeks CUs input on the mortgage crisis
MADISON, Wis. (1/8/08)--Credit unions can share their thoughts on a possible solution to the mortgage crisis on the Filene Research Institute’s website. Filene has posted a Dec. 26 New York Times op-ed piece regarding a “one-size-fits-all” mortgage solution and a forum for users to comment and discuss. The article was written by Michael S. Barr, a professor of law at the University of Michigan; Sendhil Mullainathan, a professor of economics at Harvard; and Eldar Shafir, a professor of psychology at Princeton. Under the Times’ solution, lenders would be encouraged to provide better disclosures to borrowers who choose to opt out. “If default occurs when a borrower opts out, the borrower could raise the lack of reasonable disclosure as a defense to the bankruptcy or foreclosure,” the article stated. The approach would still permit lenders to create new types of mortgages, but would make it harder for lenders to place borrowers in situations where they are vulnerable, according to the Times. For more information, use the link.
Other Resources

RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
1 hour ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
3 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
4 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
4 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
5 hours ago