Va. CU Pilots Affordable Housing

Published December 18, 2006, 1:00 a.m. EST

|

Updated August 27, 2020, 3:54 a.m. EDT

1 Min Read

ALEXANDRIA, Va. - Shiloh of Alexandria FCU unveiled a new affordable housing program in collaboration with the Virginia Housing Development Agency.

Processing Content

The program will allow the $1.2-million community development CU to originate reduced-rate mortgages without a requirement for private mortgage insurance.

The mortgages will be issued through CU National Mortgage. The new product was introduced at a ceremony with NCUA Board Members JoAnn Johnson and Gigi Hyland, NAFCU President Fred Becker, and Cliff Rosenthal, executive director of the National Federation of Community Development CUs. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Regulation and compliance

FDIC's Hill defends supervision and merger reforms

Federal Deposit Insurance Corp. Chair Travis Hill said Tuesday that regulatory changes to bank supervision and M&A rules are meant to improve safety and soundness rather than water down oversight.

By Kate Berry
Reporter

52m ago
Cyber Security

AI-linked hacks hit Korean banks through loan-agent sites

Attackers suspected of using AI got into Korean banks through side doors. The apparent failures were ordinary cyber hygiene, the kind U.S. regulators keep naming.

By Carter Pape
Technology Reporter

1h ago
Industry News

With $74M in growth capital, can RQD boost its RIA custody business?

While it isn't a household name in most U.S. wealth management circles, RQD* Clearing just drew a substantial growth investment on the basis of its international clearing business. Can that translate to more stateside RIA relationships?

By Tobias Salinger
Chief Correspondent

1h ago
Stablecoin

Majority of community banks express concern over stablecoins

A survey of community bankers found broad concern that the emergence of stablecoins will result in deposit outflows and reduced lending capacity.

By Allissa Kline
Reporter

2h ago
Agentic AI

How Meta's Muse aids Intuit's push into small business banking

Embedding the social network's agentic AI tool into Quickbooks provides fast access to financial services and payments for entrepreneurs.

By John Adams
Executive Editor, Payments

3h ago
Federal Reserve

Fed's Bowman unveils major overhaul of its bank supervision

The Federal Reserve is restructuring bank supervision into five regions, following state lines, and putting one regional leader in charge. It's also planning to revise regulatory thresholds so that banks will need to be bigger before tougher standards kick in.

By Kate Berry
Reporter

3h ago

Load More