Feb. 6, 2012


Comments

 
 
 
  • Good program but are those long term fixed rate re-fi's?
    david proffitt
     
     
     
  • What an amazng and impressive success story! This is the kind of role that Credit Unions should be taking to truly help members.
    Linda LaCrosse
     
     
     
  • this is a dyanmite article. Every public official and member of congress should see this. Don't have to pass new programs, just put credit unions to work on helping consumers lower their rates!

    The numbers tell the story.
    Anonymous
     
     
     
  • Great job Seven Seventeen. We are working on establishig a savings goal for the year to announce at our annual meeting at the end of March. This is very helpful. Since you have created so much material, are you willing to share some so we don't need to reinvent the wheel? Thanks, DDD
    Dennis D. Degenhardt
     
     
     
  • Great questions. I reached out to Eric Lanham for clarification, and he provided the following answers:

    1. The vast majority of mortgage refis have been traditional, fixed-rate loans. Looking at terms less than versus more than 15 years, it is about an even split.

    2. The credit union packaged together existing products and services, so there is nothing it had to change relative to reporting practices.

    Rebecca Wessler
     
     
     
  • Are these loans reported as modified on the Call Report?
    Kevin Zimmer
     
     
     
  • How do you calculate the member savings?
    Jeanna