MADISON, Wis.-Dave Colby, chief economist with CUNA Mutual, has two suggestions for the credit union community when it comes to increasing mortgage lending: Create a new mortgage, and offer refis for people in their 50s with 70% equity in their homes.

BEL AIR, Md.-The recent move of Har-Co FCU to a bank charter has brought CU conversions back to the forefront.

WASHINGTON-CUNA said it paid former CEO Dan Mica almost $1.7 million for six months of work last year, as Mica opted to leave the trade group midway through the year even though he got paid through year-end under his contract.

Two CUNA economists — Steve Rick and Mike Schenk — offered divergent views on a host of issues during a discussion at the CUNA CFO Council.

ALEXANDRIA, Va.-NCUA reported last week that credit union profitability rose to 74 basis points for the first quarter, up from 51 BPs in the fourth quarter of 2010, and the best performance in four years.

CHULA VISTA, Calif.-Hans Ganz, who earned millions of dollars and the enmity of the credit union movement converting his credit union to a bank, retired last week as CEO of Pacific Trust Bank, the one-time Pacific Trust FCU.

WASHINGTON-Consumers' ability to afford a mortgage down payment is still severely impaired, according to a poll by the National Foundation for Credit Counseling.

SAN FRANCISCO-CMG Mortgage Insurance Co. (CMG MI) will join with the American Credit Union Mortgage Association's (ACUMA) to co-sponsor a series of regional mortgage lending workshops.

MOBILE, Ala.-A prominent Realtor, her son and daughter-in-law pleaded guilty to an expanding mortgage fraud that enabled them to buy expensive vacation homes at Alabama's Gulf Shores using "straw borrowers" to qualify for credit union loans. Other lenders victimized by the scheme were ABN AMRO, First Tennessee Bank, US Bank and First Choice Funding.

NEW YORK-National home prices hit a new lows in the first quarter of 2011, according to the S&P/Case-Shiller Home Price Indices.

South Carolina FCU, Charleston, S.C., elected Kelvin Brown chairman of its board of directors.

Inflation Rate Surpasses Highest Paying CD Rate

MADISON, Wis.-Despite poor loan growth overall, most credit unions have had "two really strong years in a row" on the mortgage front. The challenge now, one analyst is stressing, will be to dig deeper and invest time and resources to make mortgage lending an even bigger source of loans.

"To the extent that the opportunity is there and they have the expertise, credit unions should not shy away from mortgages. They need to resist some of the regulatory pressure to avoid this stuff."

MADISON-Despite some really good economic signs overall, the housing market is going to take a very long time to recover — and may never get back to where it was during the boom.

NCUA'S INTEREST RATE PLAN SEEN AS RISKY BUSINESS

A brand study found that consumers would pay up to 4% more for financial products and services if they were simpler and more streamlined.

There are a myriad of marketing strategies a marketer could leverage to get the elusive Gen Y demographic to take the bait. But which one works? Well, the answer just might be right under your nose: your staff.

The government's GoDirect campaign will, no doubt, serve as a model to credit unions for receiving deposits of benefit payments from other federal programs.

SAN DIEGO – Mitek Systems said this morning it has been granted four new patents from the U.S. Patent and Trademark Office for its popular “Point, Shoot and Deposit” mobile deposit technology.