CU Members Mortgage, Fort Worth, Texas, has announced an exclusive relationship with the Association of Vermont Credit Unions to provide mortgage origination and servicing to the AVCU's 30 member credit unions."Our goal is to provide the support credit unions need to increase their market share of home loans, and CU Members Mortgage has the capabilities and experience to work with credit unions to increase homeownership among their members while creating new income for the credit unions' financial viability," said Bryan Kent, vice president/LSC executive at the AVCU. The mortgage company can be found on the Web at http://www.cumembers.com, and the association can be found at http://www.vermontcreditunions.com.
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Median purchase loan payments hit $2,198 in May, up 2.1% from April, as rising rates and home prices threaten to dampen origination volume, MBA reports.
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Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
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Almost 75% of brokers reported growing non-QM volume in their business over the last three years, and just 3.7% said volume decreased, according to AD Mortgage.
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The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
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Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
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