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
Regulator to auction off Huron River Area CU-owned homes
FORT MEYERS, Fla. (12/4/07)--The National Credit Union Administration (NCUA) and DebtX of Boston will hold an online auction Dec. 13 to sell $26 million of bad loans on homes in the Lehigh Acres and Cape Coral, Fla.-areas. Participants will be limited to select investors and financial institutions. The auction will not be “like eBay,” according to DebtX CEO Kingsley Greenland (Florida News-Press Nov. 30). The debt was accumulated by Huron River Area CU of Ann Arbor, Mich. The credit union made construction loans on the homes during a surge in real estate last year. The average loan balance on the 100 homes is $261,000, and the average value was $360,000 when the loans were made, the newspaper said. Huron River Area CU was liquidated by the NCUA Nov. 18. The credit union’s member accounts were purchased and assumed by Detroit Edison CU of Detroit. The NCUA took over the credit union in February after it was placed into conservatorship by the Michigan Commissioner of the Office of Financial and Investment Services (News Now Nov. 19).


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
6 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
8 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
9 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
10 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
10 hours ago