Skip to main content

Evolving Mortgage Modification Scene

An examination of credit union and bank modification trends..With housing prices bouncing along the bottom and unemployment starting to fall, the outlook for 2012 is stronger than when we entered 2011. However, there are still millions of Americans who have not had a chance to take advantage of low interest rates by refinancing their mortgage or other debts, a fact **** Read More; Evolving Modification Scene:

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Sheehans Consulting LLC - "We only have one goal in mind!"

We have one goal in mind: “What is best for you? We achieve strategic initiatives, develop products, optimize profitability and productivity through best practices, and make our firm a strong asset for professional services.  With over 30 years of experience in public administration, credit union, and association management, I have developed a solid track record in leadership and development.  Please visit us at https://www.sheehansconsultingllc.com/ to learn more about what we can do for you.   _________________________________________ Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

Sunday Reading - Individual Retirement Accounts

  Individual Retirement Accounts     Inside IRAs Individual retirement accounts, or IRAs, are tax-advantaged   investment accounts that help individuals save for retirement. The money you put into an IRA is used to invest in stocks, bonds, and other assets. Anyone who earns an income—regardless of whether they are a full-timer, a part-timer, or a contractor—can open and invest in an IRA. IRAs are often good solutions for people who don’t have the option to invest in a 401(k) ( 1440 Topics )—or for those who want to put even more money aside for retirement.   Depending on the type of IRA someone gets, they will have access to either a tax-deferred or...
Post a Comment
Read Complete Article HERE>»

Trump Administration Reverses Course, Restores CDFI Fund Staff In Major Win for Credit Unions

WASHINGTON—In a sharp reversal of the Trump Administration’s earlier move, the mass reduction-in-force (RIF) notices issued to all employees of the CDFI Fund last month have been rescinded, according to internal emails reviewed by Punchbowl News. The notices had threatened terminations in December as part of a broader effort by the Office of Management and Budget (OMB) under Director Russ Vought to pressure congressional Democrats to drop their objections in the budget-funding fight. For the credit-union movement, the signal is loud and clear: critical community-development infrastructure may yet be preserved, sources stated. “Reinstating the entire CDFI Fund staff is an essential and welcome step toward restoring a program that has proven itself indispensable to underserved and military communities,” said DCUC Chief Advocacy Officer Jaso Stverak. “The CDFI Fund isn’t just another federal initiative—it is a lifeline for servicemembers, veterans, and low-income families who rely on miss...
Post a Comment
Read Complete Article HERE>»

Now Available - "Financial Literacy" From NCOFCU

https://www.ncofcu.org/financial-literacy The National Council of Firefighter Credit Unions (NCOFCU) is dedicated to enhancing financial literacy among our members, members, particularly targeting the Millennial and Gen Z demographics. We are excited to share our engaging financial education video series, designed to address their key concerns regarding earning, saving, and spending money wisely. Here are several critical financial lessons that can significantly impact your personal finance management and long-term financial health. Discover how staying informed and educated about financial products and market trends can empower you to make smarter financial decisions. https://www.youtube.com/playlist?list=PLT3lzRTXnHw4LjHuOIk31eTDxaQ7J7B0f   _________________________________________ Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

Best Places to Retire

  List: Best Places to Retire Midland, Michigan , was ranked the best place to retire , according to a ranking of 850 cities by U.S. News . The top locations had the best mix of affordability, quality of life, health care access, and other benefits. The top five were rounded out by Weirton, West Virginia , Homosassa Springs, Florida , The Woodlands, Texas , and Spring, Texas . Midland scored top marks on walkability , culture , retail establishments , and restaurants . The town is just a short drive from beaches at the edge of Lake Huron . The top 25 included nine cities in Florida and six in Texas. See the full list here . _________________________________________ Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

Trump Administration Declares CFPB Funding Illegal, Bureau’s Cash To Run Out By Early 2026

WASHINGTON—Credit-unions face a potential regulatory vacuum as the Trump Administration formally has determined the CFPB’s current self-funding mechanism unlawful—a move that could put the agency on a path to closure in early 2026 unless Congress steps in. For credit-union leaders, who rely on the Bureau’s oversight of consumer-finance markets and enforcement of unfair practices, the decision signals a major disruption to the regulatory environment CUs navigate daily. In a court filing released late Monday, the Administration declared that the CFPB is now legally barred from seeking additional funds from the Federal Reserve System—the agency’s usual funding source under the Dodd‑Frank Wall Street Reform and Consumer Protection Act, POLITICO reported. That means the Bureau’s remaining resources will likely carry it only through the end of the year, after which it “anticipates exhausting its currently available funds in early 2026.” CUToday.info has tracked this story, noting in  Oct...
Post a Comment
Read Complete Article HERE>»

Vehicle Shortage Wreaking Havoc with Car Buyer’s Pocketbooks

Washington, D.C. – As Americans begin to see the light at the end of the COVID tunnel, record numbers of buyers are venturing back into auto showrooms. “The problem,” says Jack Gillis, CFA’s Executive Director and author of The Car Book, “is that vehicle inventories are way down which means it’s a sellers’ market. Limited supply is a price-conscious car buyer’s biggest enemy.” Vehicle inventory is down by about 30 percent which means car dealers have little incentive to negotiate. “The rule of thumb that nobody pays ‘sticker price’ for a new car has fallen by the wayside as dealers stick to the manufacturers suggest retail price (MSRP) on the vehicle label,” said Gillis. In fact, for some particularly popular vehicles in short supply, dealers are charging prices above sticker price. Gillis’s advice on the best way to deal with this reality: “If you don’t need to replace your car right now, you should wait.” The widely reported computer chip shortage and other repercussions from th...
Post a Comment
Read Complete Article HERE>»

Navigating Cryptocurrency Risks: Education Is Key

 By Lou Grilli PSCU Interest often outpaces understanding in this space; avoid scams by boosting knowledge. Although the first cryptocurrency launched in 2009, participation and speculation accelerated rapidly over the last two years with terms like NFT and dogecoin entering the daily lexicon. However, interest often outpaces understanding in the cryptocurrency discussion, and people who are just getting involved need to be aware of the security risks. Although most credit unions may not yet be involved in the cryptocurrency sphere, education is essential to avoid dangerous crypto scams. Crypto 101 Designed to unlock new forms of financial operation, cryptocurrency has the potential to ease and expedite payments. Transactions move at the speed of blockchain, typically requiring minutes, unlike the next-business-day timeframes for the automated clearing house network. In addition, payments made via cryptocurrency do ...
Post a Comment
Read Complete Article HERE>»

The hidden cost of loyalty: How internal promotions impact credit union executive compensation.

Break the cycle of below-market pay while preserving your credit union's promotion culture Credit unions so widely embrace internal promotion that it has moved beyond being a common staffing practice and has become a cultural norm. That’s a good thing in many ways. For example, promoting from within can foster organizational continuity, reinforce credit unions’ mission-driven ethos, and encourage employee loyalty and engagement. However, internal promotion also carries hidden costs, particularly when it comes to executive compensation. This article explores the strategic balance credit unions can find between the benefits of a promotion culture and the often-overlooked consequences of internal hiring, including inadvertently suppressing executive compensation, and how this suppression poses significant strategic challenges. Additionally, we will highlight practical steps that credit unions can take to mitigate these challenges and ensure competitive alignment of both internal promo...
Post a Comment
Read Complete Article HERE>»

Nearly Half of Americans Say They Are Currently Living Paycheck to Paycheck; Survey Finds Other Worries, as Well

ST. LOUIS–Some 70% of Americans have lived paycheck to paycheck at some point during the pandemic, and nearly half (48%) are living paycheck to paycheck right now, according to a new survey. The survey, released by Real Estate Witch, a unit of Clever, said the financial strains are coming as rental rates have leapt 17.8% over just this past year, and Americans have quit their jobs in droves, willingly taking pay cuts and leaving behind 10.9 million unfilled jobs in December. Real Estate Witch surveyed 1,000 Americans about their financial struggles during the pandemic and their expectations for the year ahead, and said it found households are stretched thin, with limited savings to cushion their spending. “Two years since the onset of the pandemic, most Americans have bleak outlooks on the housing market, as many have delayed their plans to sell or buy, and interest rates are climbing once again,” the company said in releasing its findings. The Key Findings Among the survey findin...
Post a Comment
Read Complete Article HERE>»