Credit Union Journal staff

NAFCU’s Economic & CU Monitor shows Fannie Mae and Freddie Mac play an outsized role in the credit union industry’s mortgage products.

Both houses of the California state legislature have passed bills known as The California Foreclosure Reduction Act, but even before they hit Gov. Jerry Brown's desk concerns are being raised as to their impact on credit unions.

In a major setback for credit unions and banks, the Internal Revenue Service approved new rules that require depositories to report interest payments to nonresident aliens, starting in 2013.

The credit union lobby - in the midst of a flurry of new regulatory proposals - is calling on the National Credit Union Administration for a temporary halt to new rulemaking while credit unions catch their breath.

Genworth Financial said its U.S. mortgage insurance unit is offering a relocation product with discounted MI premiums to help credit unions expand their market and pursue business from members relocated by corporate and military employers.