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
Sunshine State sees mini-boom in mortgages
MIAMI (9/2/11)--Florida--one of the states hit hardest during the recession--is experiencing a mini-boom in mortgages, according to a new national survey. The Sunshine State accounted for more than one of out five home loans from April to June, according the most recent survey of lenders from the Mortgage Bankers Association (South Florida Sun-Sentinel Sept. 1) Fewer Florida residents are missing house payments, according to the association. That sign of stability is giving lenders a sense of confidence, said Rich Helber, president/CEO of Tropical Financial CU of South Florida, Pembroke Pines, Fla. Helber told the Sun-Sentinel home prices have stabilized in South Florida. Tropical Financial CU of South Florida has loosened mortgage requirements and accepts more applicants with high debt if they have a good history of making payments. Mortgage applicants may not be required to make a 20% down payment if they have a credit score of 650 or above, he added.
Other Resources

RSS





print
News Now LiveWire
Middle-class families walking a tightrope with little savings @pewresearch HT @CNNMoney http://t.co/Pfu2KHASZa
9 hours ago
.@CUNA's @SchenkMike on @federalreserve meeting: http://t.co/Ry39vjWdA1
9 hours ago
#creditunion cites prize-linked savings success in @WSJ http://t.co/3CXupUMx5d
12 hours ago
.@CFPB proposes mtg rule changes 2 facilitate responsible lending by small creditors, esp. in rural/underserved areas.http://t.co/sn6PnlS0EB
13 hours ago
#NewsNow Apple Pay interest booming at CUs, Western Union joins http://t.co/LsaoOYzAPx
15 hours ago