Aug. 3, 2009


  • Larry,

    While first look credit unions have been on record pace issuing first mortgage loans their balance sheets have been relatively unchanged. First mortgage loans outstanding on their balance sheet increased 1.75%, which shows that a large percentage of the first mortgage loans can be attributed to refinancing or are being sold on the secondary market. Hopefully this does something to assuage your fears.
    Sam Brownell
  • It's a little disconcerting that the industry is loading up on real estate in a period of historically low rates. What do we know that the S&L guys didn't in 1979? Hope I'm wrong.
    Larry Davis