Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth
Lending / The Ticker

NAFCU’s Dirty Dozen

Credit Union association outlines 12 goals for 2014


The National Association of Federal Credit Unions (NAFCU) published a list of what it calls the “Dirty Dozen” — a series of goals that the organization has for 2014.

One of its standout initiatives is a push to securitize loans and increase credit unions’ ability to invest in mortgage servicing rights.

The Dirty Dozen list includes the organization's ongoing push for credit unions to wade into riskier investments, with NAFCU’s No. 1 goal being an expansion of credit union investment authority, which includes "the ability to engage in limited derivatives activities."

NAFCU’s other goals include modernizing the association’s fixed-assets rule, improving the process for credit unions trying to seek changes in their field of membership, increasing the number of transfers allowed to be made per month from savings accounts, and seeking added flexibility for credit unions that offer member business loans.

The association also wants to update the requirement to disclose account numbers to protect the privacy of members, enhance advertising requirements for loan products and share accounts and modernize NCUA advertising requirements to meet the needs of mobile membership.

Recent Articles by Kerri Panchuk

Comments powered by Disqus