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

Washington
Inside Washington (07/08/2008)
* WASHINGTON (7/9/08)--The Federal Housing Administration (FHA)’s risk-based pricing structure goes into effect next week. Under the structure, borrowers without traditional data will pay lower insurance fees than those with credit scores lower than 560. However, they will pay more than borrowers with scores of 600 or higher (American Banker July 8). The FHA has underwritten about 5% of its mortgages with nontraditional data, said Lemar Wooley, FHA spokesman. The agency said in April that nontraditional credit data should still be verified by credit bureaus ... * WASHINGTON (7/9/08)--It’s important that borrowers aren’t being foreclosed on more quickly or denied access to modification programs because of their race, Comptroller of the Currency John Dugan said in a speech at a compliance conference Monday. “In today’s difficult economy, with so many mortgages having problems, banks also need to be sure that similarly situated borrowers who default or become delinquent are treated similarly, with no variations based on prohibited factors like race or gender,” he said. He encouraged banks to keep up with compliance, and noted that fair lending will be a priority compliance issue in the next year ... * WASHINGTON (7/9/08)--The Office of Thrift Supervision (OTS) has released its Mortgage Metrics Report , which covers activity by OTS-regulated mortgage servicers to help borrowers avoid foreclosure for the quarter ending March 31. The report provides a baseline of data to track loan modifications and repayment plans. It also assesses the effectiveness of foreclosure prevention initiatives ... * WASHINGTON (7/9/08)--Federal banking and thrift agencies issued a statement Tuesday outlining the qualifications for organizations implementing Basel II, the new capital adequacy framework for financial institutions. The process has three stages: adoption of an implementation plan; completion of a satisfactory parallel run; and advancement through three transitional periods ...


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
20 hours ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago