ARLINGTON, Va.—New home sales grew 10.7% in May to 696,000 annualized units, while April saw an upward revision of 38,000 units.
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ARLINGTON, Va.—A majority of credit union leaders’ overall interest in providing members with real-time payments in the next one to two years is moderate, according to a new report, that found a large minority, however, see it as a strong area of focus.
WASHINGTON–The total number of mortgages in forbearance decreased in May. According to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, loans now in forbearance decreased from 0.94% of servicers’ portfolio volume in the prior month to 0.85% as of May 31.
WASHINGTON—A joint cybersecurity advisory on cyberattacks from China has been issued by the National Security Agency, Cybersecurity and Infrastructure Security Agency, and the FBI.
WASHINGTON—Four members of Congress have unveiled draft bipartisan data privacy legislation, that seeks to create a comprehensive federal data privacy and security standard, but one CU trade group is objecting to its provisions.
JOLIET, Ill.–Two more credit unions have announced they are buying banks, both in Illinois.
SCHAUMBURG, Ill.–During the first quarter of2022 the nation’s credit unions grew their marketshare to 22.06% of the total automotive finance market, up from 18.55% a year prior.
COLUMBUS, Ohio–Telhio Credit Union said it has expanded its charter to Champaign, Clark, Greene, Marion, Miami, Montgomery, Morrow, and Richland counties in Ohio.
WASHINGTON—Is the long tradition of the 30-year mortgage in the U.S. on its way to becoming the 40-year mortgage? It could be, and one plan to extend terms has the support of the credit union trade groups.
WASHINGTON—The nation’s federally insured banks reflect aggregate net income of $59.7 billion in first quarter 2022, a decline of $17.0 billion (22.2%) from a year ago. An increase in provision expense drove the annual reduction in net income, according to the FDIC.