Credit Union Industry
Credit Unions vs. Banks
Why Would People Throw Money Away with Banks Instead of Investing in a Credit Union? Includes Credit Unions vs. Banks Infographic.
Humanitarian Highlight
Fuel the Light
It is time for this week’s #HumanitarianHighlight you guys! We are so excited to present to you all of these amazing #creditunions and the #CUdifference they have all made in their communities. Let’s get started, shall we?! Also, if you know of a #creditunion who has positively impacted their community, tag us and let us know so we can ensure they get recognized!
Fintech
Fintech Friction
In today’s world, it is imperative to have a system that is up to date (made necessary by advancing technologies that are becoming easier for users to navigate), and a system with fewer clicks, known as a “3-click rule.”
Credit Union Industry
Navigating Current Lending Trends
Following current lending, trends can boost loan applications and approvals. It can also spark new partnerships and provide a competitive edge in a volatile market.
Credit Union Industry
Lending Documents & Data Processors
Are you considering a data processor switch? If so, there are several things to consider in order to ensure the process goes smoothly. Following these steps will make the transition efficient and minimize any headaches.
Credit Union Industry
Regulation Z Amended
There’s welcome news on the residential mortgage lending front. After assessing nearly a year’s worth of real-world experience, the Consumer Financial Protection Bureau (CFPB) came to the conclusion that it had to do something about the reluctance of many mortgage lenders to offer qualified mortgages with points and fees close to the limit imposed by the federal Truth in Lending regulations. Under Regulation Z, in order for a loan of $100,000 or more to meet the qualified mortgage standard, the total points and fees cannot exceed three percent (3.0%) of the total loan amount. For loans less than $100,000, the points and fees cannot exceed the applicable limit described on a graduated dollar/percentage scale.