Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (11/04/2008)
* WASHINGTON (11/5/08)--Regulators are hoping to increase participation in Hope for Homeowners by easing its standards. The program, which was effective Oct. 1, helps borrowers refinance mortgages that are written down and worth less than their homes (American Banker Nov. 4). Few lenders have applied for the program, according to industry representatives. The government could drop the required writedown to 3% to 5% below market value. Currently, lenders are required to write down a mortgage to 13% below market value. Regulators also could lower borrower eligibility requirements. Currently borrowers’ payment-to-income ratio cannot be higher than 31%. Observers also suggest that annual premiums could be cut in half, to 75 basis points ...


RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
8 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
9 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
9 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
9 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
10 hours ago