Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU CEO tells Sacramento what to expect in 2008
SACRAMENTO (1/9/08)--Lenders should be doing everything they can to help their borrowers in today’s economy, a California credit union CEO recently told the Sacramento Bee. Carol Hauck, president/CEO of First U.S. Community CU in Sacramento, said that traditional solutions may not be enough to ward off foreclosures amidst the real estate slowdown. Hauck was interviewed for a Jan. 6 article about what consumers can expect in 2008. Hauck was interviewed for the financial institutions section. Housing values continue to drop, which makes financing challenging for financial institutions, she told the newspaper. Foreclosures and losses will mount, and there may not be enough capital available for new financing. Refinancing to pay other debts has slowed because many borrowers do not have enough equity. Homeowners who financed at the top of the market may also owe more than the value of their homes, she noted. To solve these problems, traditional solutions may not be enough and new ideas are needed to help both borrowers and their financial institutions, Hauck said.
Other Resources

RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
16 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
17 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
19 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
21 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
21 hours ago