Credit unions

Navy Federal Credit Union, the largest credit union in the country, agreed Tuesday to pay $28.5 million to settle regulatory allegations it engaged in illegal debt collection practices.

Royal Bank of Scotland Group agreed to pay $1.1 billion to settle the first of three major U.S. mortgage-backed securities probes the bank must overcome before it can resume dividend payments.

Republican lawmakers are pushing back against claims by the Consumer Financial Protection Bureau's allies that it rooted out fraud at Wells Fargo, arguing the L.A. City Attorney and the Los Angeles Times brought the situation to light.

Credit union service organization myCUmortgage has launched a new mortgage servicing operation, providing its members with another option to deal with the payment function.

A group of financial industry players — including mortgage servicers and credit unions — are joining together to form a new coalition promoting workforce diversity.

A rising number of banks are looking to become community development financial institutions, emboldened by low-cost capital and an exemption from the ability-to-repay rule.

The slow start to Fifth Third's 3%-down mortgage illustrates some of the logistical challenges with such programs, which are on the rise across the industry.

The national credit union trade associations have joined with unlikely partners as co-signers on a letter that calls out the Department of Housing and Urban Development over lending issues.

Eight credit unions with branches in six states have partnered with myCUmortgage to provide mortgage products and services for their members.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

In a move to reduce the strain on its small staff and improve service, a credit union in Wyoming now lets its members pay their mortgages and other loans simply by sending a text message.

Now that privately insured credit unions finally can join the Federal Home Loan Bank System, will more federally insured state charters consider converting to private insurance?

Fifth Third Mortgage has introduced a new down-payment assistance program in conjunction with Freddie Mac's Home Possible Advantage 3% down loan.

So far, 2016 has brought legal battles, election woes and TRID-related headaches to the mortgage industry, among many other major issues.

Mortgage banks were more likely than other lenders to see a competitive advantage from the implementation of the TILA-RESPA integrated disclosure rules, according to a survey from Fannie Mae.

The National Credit Union Administration said it has accepted a $29 million offer of judgment from Credit Suisse to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest Corporate Credit Unions.

The House passed a bill late Monday to extend foreclosure relief for military service members through the end of next year.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

Despite dire predictions by banks and others that new mortgage rules by the Consumer Financial Protection Bureau would cut off access to credit, the industry is performing well two years after the regulations went into effect, according to the agency's top official.

These nine credit unions will implement Intuvo's mortgage automated marketing platform.