Skip to main content

When an adustable-rate mortgage makes sense - The Term Sheet: Fortune's deals blog Term Sheet

FORTUNE -- During the housing meltdown, adjustable-rate mortgages were vilified as a hallmark of irresponsible borrowing. Recently, though, they've been making a comeback, especially among affluent borrowers. This summer, for instance, Facebook (FB) CEO Mark Zuckerberg reportedly financed his home using an ARM with a rate of just 1.05%. Most borrowers can't snag a rate remotely close to that. But many would still do well to consider an ARM right now ----------When an adustable-rate mortgage makes sense - The Term Sheet: Fortune's deals blog Term Sheet

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Sunday Reading - Changing the Map

  Changing the Map     Redistricting, explained Congressional redistricting is the process by which states redraw electoral district boundaries   that determine representation in the US House of Representatives. The Constitution, federal law, and court rulings require districts to have roughly equal populations, avoid discrimination against racial or language minorities, and, in most states, be geographically contiguous. For most of American history, redistricting has followed a predictable cycle, occurring every 10 years after the census.   Gerrymandering is the deliberate manipulation of district boundaries to advantage one political party. Common tactics  by both major American political parties include packing opposition voters i...
Post a Comment
Read Complete Article HERE>»

Reuters: Trump Regulators Launch Biggest Bank Oversight Overhaul Since 2008

Is NCUA next? WASHINGTON—Federal banking regulators under President Trump are undertaking what Reuters described as the most significant overhaul of bank supervision since the 2008 financial crisis, shifting examiner focus away from process and compliance issues and toward what agencies consider “material” financial risks. According to Reuters, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. have directed examiners to concentrate on risks that pose direct threats to a bank’s safety and soundness, rather than on paperwork deficiencies, governance concerns or procedural issues that do not immediately affect financial stability. Reuters reported that regulators have also moved away from evaluating banks based on “reputational risk,” a supervisory concept long criticized by banks as overly subjective. The change follows complaints from President Trump and others that financial institutions have used reputational-risk considerations...
Post a Comment
Read Complete Article HERE>»

Hauptman Tells Congress CU Health is Strong; Responds to Questions from Committee

WASHINGTON — National Credit Union Administration Chairman Kyle Hauptman told members of the House Financial Services Committee on Thursday that the nation’s credit union system remains financially strong, while warning that rising delinquencies and consumer financial stress continue to warrant close monitoring. Hauptman also responded to a handful of questions from members of Congress, as well. Hauptman appeared as part of the regular hearings on Oversight of Prudential Regulators. Also appearing as witnesses were Michelle Bowman, vice chair for supervision with the Federal Reserve; Travis Hill, FDIC chairman, and Jonathan Gould, the acting Comptroller of the Currency. Kyle Hauptman In his prepared statement, Hauptman said federally insured credit unions remain well-capitalized and continue to meet members’ borrowing needs despite economic headwinds. He said the NCUA is focused on maintaining safety and soundness, protecting the National Credit Union Share Insurance Fund and creating...
Post a Comment
Read Complete Article HERE>»

The Role of the Board Chair

Tim Harrington, CPA   CEO, TEAM Resources The Role of the Board Chair Recently I had the chance to spend some time with a great group of board members . One of the things we talked about was the role of the board chair. I thought this well worth putting down on *paper* as it were. The role of the chairperson is multi-faceted, complex, and often changing within the context of the organization’s dynamic. Unfortunately, there’s no perfect set of “rules.” But there are some guidelines. Here are our “tips” on navigating the position successfully: Roles Facilitator  – The board chair must draw together the individual directors into a team, working together on behalf of the membership and the credit union. To do that, s/he must wrangle individual personalities, draw out conversation from some, and rein it in from others. Having a solid understanding of the personalities of each director … and the CEO helps the chair keep things on track, moving forward, and civil. ...
Post a Comment
Read Complete Article HERE>»

Trump Accounts Program For Children Moves Forward With New Mobile App Launch

  WASHINGTON—The Treasury Department on Thursday announced the launch of the new Trump Accounts mobile app, marking the next phase of the Administration’s rollout of its new federally backed investment savings program for children ahead of the program’s official July 4 launch date. Donald Trump The app, now available through major mobile app stores, will serve as the primary platform for families to manage and activate Trump Accounts. Treasury Secretary Scott Bessent said the app is intended to give parents and guardians a “simple, secure way” to participate in the program, which was created under the 2025 Republican tax-and-spending package. Families that already submitted IRS Form 4547 to enroll children in the program will begin receiving phased activation emails between now and July 4, according to Treasury. Under the program, eligible children born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 federal seed contribution into a tax-deferred investment ac...
Post a Comment
Read Complete Article HERE>»

Cheer Up and Change: "Wait and see is not a plan."

I posted this a year ago and thought I would bring it back to see if any of his predictions came true. Take a look and tell us what you think. Grant Sheehan CEO Cheer Up and Change: The Demographic Mandate At a conference I recently attended Monday morning started off with a great session by demographer and futurist Ken Gronbach, who laid out his predictions on where we’re going and what we can expect as demographics change. I was pleasantly surprised that the future isn’t sounding as bleak as the news might have you believe. Gronbach offered lots of predictions for where our society and our world is headed. His predictions were given with a purpose: To help associations build their vision and plan for the future. As Gronbach stressed,  "Wait and see is not a plan." I’ve decided to arrange this recap into a list of my takeaways rather than a narrative recap. I hope you get as much out of this information as I did! Things to Expect: Big Changes in Retail : Gronbach ...
Post a Comment
Read Complete Article HERE>»

Supplemental Capital to be Considered by NCUA

Supplemental Capital At the NCUA’s October board meeting, senior staff of the NCUA submitted a briefing report (the “Report”) to the NCUA Board (the “Board”) on the issues concerning the use of supplemental capital by federally insured credit unions (“FICUs”).  The use of supplemental capital presents a number of regulatory and policy issues that would need to be addressed prior to authorizing this form of capital for all FICUs.  The Board considered issuing an advanced notice of proposed rulemaking (“ANPR”) in the near future which would give credit unions and the public the opportunity to provide comment before the proposed rule stage.  Supplemental capital does not provide any capital support under the NCUA’s net worth requirements because it does not count as equity under generally accepted accounting principles, but it would allow FICUs to have a greater concentration of member business loans and long term mortgage loans since it could be used by FICUs to meet...
Post a Comment
Read Complete Article HERE>»

Letter to Credit Unions Says NCUA Exam Modernization Now Underway

ALEXANDRIA, Va.—NCUA has sent a Letter to Credit Unions ( 21-CU-08 ) detailing the agency's transition to modernized systems. The agency said it will begin this transition in August. NCUA’s efforts will include the implementation of emerging and secure technology that supports the NCUA’s examination, data collection, field of membership, and reporting efforts. “These new applications will streamline processes and procedures and provide significant benefits to credit union users,” NCUA said. Key areas affected: NCUA Connect Admin Portal Consumer Access Process and Reporting Information System (CAPRIS) 1 Modern Examination & Risk Identification Tool (MERIT) Data Exchange Application (DEXA) Training Available To prepare credit unions for the transition to these new systems, NCUA said it will provide credit union user training through various avenues, including: A self-paced training curriculum covering MERIT functionality available through the NCUA’s Learning Management Service An...
Post a Comment
Read Complete Article HERE>»

IRS Reporting Requirement Has Turned Into Uphill Battle for CUs

  It’s in. It’s out. It’s in again. On Thursday, NAFCU, CUNA and more than 100 associations sent a letter to all members of the U.S. House of Representatives and Senate asking them to reject a proposed IRS reporting requirement that credit union trades have been pushing back against since July . The proposed IRS reporting requirement would require financial institutions, including credit unions, to report the inflows and outflows of personal and business accounts, as well as transfers between accounts of the same owner, if it is more than $600 per year. The proposal found new life inside the House version of the budget reconciliation bill after it was rejected in the version approved by the House Ways and Means Committee last month. On Tuesday, Speaker of the House Nancy Pelosi (D-Calif.) said the IRS reporting requirement would be included in the House version of the bill. CUNA, NAFCU and other organizations voiced their objections to the proposal in a joint letter. While the l...
Post a Comment
Read Complete Article HERE>»

Apple Pay Lands 22 Credit Unions

By Roy Urrico CU Times May 06, 2015 Apple announced 24 new participating Apple Pay issuers, including 22 credit unions. More than 155 credit unions out of less than 250 issuers offer the service. Among the new credit union issuers are the $415 million Bellwether Community Credit Union in Manchester, N.H.; the $243 million Benchmark Federal Credit Union, in West Chester, Penn; the $15 million Blackhawk Community Credit Union in Beaver Falls, Penn.; the $2 billion CommunityAmerica CU in Kansas City, Mo.; the $2 billion Community First CU in Appleton, Wis.; the $143 million Connections CU in Pocatello, Idaho, the $164 million cPort CU in Portland, Maine; the $140 million Denver Fire Department FCU ; the $148 million Electro Savings CU in St. Louis; the $1.1 billion Elements Financial FCU in Indianapolis; the $448 million First Financial CU in Albuquerque, N.M.; the $541 million Greater Nevada CU in Carson City, Nev.; the $485 million Harvard University Employees CU in Cambridge, Mass...
Post a Comment
Read Complete Article HERE>»