Items Tagged with 'Navy Federal Credit Union'


  • Navy Federal Credit Union names Mary McDuffie president and CEO

    McDuffie promoted from chief operating officer
    Navy Federal Credit Union is about to have a new leader. The world’s largest credit union announced Thursday that it is promoting Mary McDuffie to serve as its new president and CEO. Previously, McDuffie served as the credit union’s chief operating officer.
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  • Multifamily volatility drags down housing starts

    Single-family construction remains solid
    Housing starts decreased 5.3% in September, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Scott Volling, Principal, PwC said regional results indicate that weather may have had an impact on housing starts.
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  • Housing starts drop 12.3% in June

    Labor and supply holding construction back
    Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. LendingTree Chief Economist Tendayi Kapfidze said although 3-month average building permits are close to the highest level since 2007, labor shortages are weighing on building activity.
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  • Navy Federal Credit Union falls victim to home equity loan fraudster

    Caused $2.7 million in losses
    Navy Federal Credit Union got caught in the middle of a home equity loan fraud scheme, causing the credit union to lose $2.7 million. According to an announcement from the United States Attorney’s Office for the Eastern District of Virginia, an Atlanta man pleaded guilty to bank fraud and making false statements to Navy Federal Credit Union.
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  • NCUA asks CFPB for examination and enforcement authority over largest credit unions

    "The CFPB and the NCUA can and should work together"
    The National Credit Union Administration wrote a letter to Consumer Financial Protection Bureau Director Richard Cordray, asking to be the primary agency responsible for the examination and enforcement of consumer financial protection laws for credit unions with assets of more than $10 billion. Interestingly enough, of the more than 5,700 FICUs operating in the U.S., only six currently have $10 billion or more in assets. One of those, however, one has already been slapped with a million-dollar fine from the CFPB in the past.
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  • Housing companies top Fortune list of best places for Millennials to work

    List includes Quicken Loans, Navy Federal Credit Union, Veterans United Home Loans
    Housing-related companies made a handful of top positions on Fortune’s 100 best workplaces for Millennials, with Quicken Loans locking in the No. 3 spot. This is welcomed news for the industry given there is an extreme shortage of Millennials opting to join the housing finance industry. Did your company make the list?
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  • Navy Federal Credit Union, Freddie Mac target investors with 5/5 ARM

    Plan to establish a “new and liquid market”
    Navy Federal Credit Union announced Tuesday that it is partnering with Freddie Mac to offer a 5/5 adjustable-rate mortgage to large institutional investors. According to Navy Federal, the 5/5 ARM has a “history of growth and stability” with the credit union, and plans to grow the product moving forward.
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