CUs go HELOC crazy

first_imgI had a sense that more credit unions were getting involved with HELOC’s but I didn’t know how big the trend was until I read this article in today’s American Banker. The paper reports that the growth in credit union HELOC lending combined with an overall decline in the number of HELOC accounts has sent the share of HELOC’s owned by credit unions soaring. In fact, credit unions now hold 13.16% of the HELOC market up from 9.63% in 2015. The graph accompanying today’s blog underscores just how big the increase has been.What’s even more interesting is the reason the article points to for the trend. While banks are still holding back the reigns with more conservative underwriting standards, credit unions are more comfortable with underwriting loans based in part on comfort with the member’s payment history. Ezra Becker, a senior Vice President at Trans Union Financial Service Business Unit points out, “credit unions do a good job working with member loyalty so they may be willing to make a loan that another institution may be unwilling to make.”Now for a boring compliance reminder. This increased interest in HELOC’s is coming just as changes to HMDA regulations mean that any institution that makes more than 500 home equity loans a year as of January 1, 2018, and meets other compliance thresholds, will now have to report these loans. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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AND THEY’RE OFF! GOOD DAY AT THE RACES IN NEWMILLS

first_imgRACING AT NEWMILLS TODAY – PIC RONAN MCGEEHINThe Letterkenny Races took place at Newmills today – with a large turn-out for this premiere local event.There was €10,000 prize money on the eight-race card, the county’s wealthiest meeting.Brian McGeehin managed to capture some of the action with these snaps! RACING AT NEWMILLS TODAY – PIC RONAN MCGEEHINRACING AT NEWMILLS TODAY – PIC RONAN MCGEEHINAND THEY’RE OFF! GOOD DAY AT THE RACES IN NEWMILLS was last modified: July 29th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:AND THEY’RE OFF! GOOD DAY AT THE RACES IN NEWMILLSlast_img read more

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