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
#NewsNow @MountainAmerica among top 100 worldwide in HR management http://t.co/QqfzOSTkiA
27 minutes ago
Missouri #creditunions embrace Bank on More SUV sweepstakes #NewsNow http://t.co/yjD1qNt68T
36 minutes ago
In letter to Pres Obama, @CUNA CEO @Nussle urges natl action on cybersecurity, breaches #NewsNow http://t.co/rZFzSXWJOP
46 minutes ago
Bank ATM fees continue to climb. Credit unions? Not so much. #NewsNow http://t.co/7nfcqusVuM
1 hours ago
NCUA 2day liquidated Republic Hose Employees FCU,Youngstown,Ohio, after determining the CU was insolvent w/no prospect for viable operations
2 hours ago