MADISON, Wis. — Even as thousands of Americans are being foreclosed upon, growing mortgage originations could be a sign a recovery looms near.

COSTA MESA, Calif. — As default rates on mortgages remain high, new analysis is revealing additional insights into different drivers of such defaults. A "Market Intelligence Report" from Experian and New York-based Oliver Wyman examines "strategic defaulters," borrowers who default on their mortgages only because the value of their home has declined well below their mortgage balance. In conducting their analysis, Experian and Oliver Wyman reported they developed a way to estimate the number of strategic defaulters and also uncovered several trends that can provide "important direction for the evolution and enhancement of loan modification programs."

COLORADO SPRINGS, Colo. — Ent FCU has seen its "plain vanilla" portfolio remain rock solid with 30-day delinquencies well under 1%, but agency paper is beginning to show serious cracks.

Federation Promotes CURE

MACON, Ga.-The former president of tiny Brosnan Yard CU shot herself to death last month as police were about to arrest her for an embezzlement scheme that may have drained more than $350,000 from the credit union.

PALO ALTO, Calif.-Addison Avenue FCU said it is piloting a new platform for Wesabe's Springboard Community Application that allows the credit union's 150,000 members to help each other with personal financial insights in a robust online community.

RICHARDSON, Texas-Texans CU filed a Chapter 11 bankruptcy petition for its Texans CUSO Insurance Group unit, because of a $6- million judgement against it by the company's former owner.

LANSING, Mich.-A credit union-backed bill that would allow high school students to take a personal finance course in place of the traditional Algebra II passed the state House. The bill, supported by the Michigan CU League, would give students a variety of options instead of the now-mandatory algebra, including financial education. Under the current state curriculum, high school students must complete algebra I, geometry, algebra II and a fourth math credit. Last year a new law was created that allows a personal finance course to count as the fourth, general math credit. The new bill would allow this type of course to replace a second year of algebra. The state Senate is considering a similar bill.

Mark Wiete has been hired by Desert Schools FCU, Phoenix, to serve as its new VP/CFO.

Hearings

BOSTON — With home affordability at record highs, one analyst believes now may be the time to target younger people in the mortgage market.

WASHINGTON-Banking regulators seized five more banks, making a total of 89 banking failures for 2009.

APPLE VALLEY, Minn.-Wings Financial FCU said its members overwhelmingly approved a conversion to a state charter that will serve almost four million people in the 13-county metro area surrounding the Twin Cities.

ALEXANDRIA, Va.-New NCUA Chairman Deborah Matz has scheduled three town hall-like meetings around the country over the next few weeks to gather input from credit unions on reforms for the corporate credit union.

WASHINGTON-Sen. Chris Dodd said last week he plans to remain chairman of the Senate Banking Committee and not assume the chair of the Health, Education Labor and Pensions Committee, which is setting the pace on the healthcare reform.

MIDDLETOWN, Penn. — One week after public release of recommendations for changes to the way corporate CUs operate, reaction is generally mixed among natural-person CUs and corporates themselves.

WEST PALM BEACH, Fla. — Analysts are predicting a soft rebound in the mortgage market this autumn, with CUs claiming they're poised to capture even more share. But new risks are also being cited at the same time many CEOs are pushing for more latitude from examiners.

Editor's Note: CURE (Credit Union Retired Executives), a resource for free, confidential management advice, is offering Credit Union Journal readers a glimpse into its with "Advice from the Brain Trust." CURE selects from among its user questions and publish the advice that was offered in response. CURE responses are put together by the group's think tank of retired credit union leaders.

April 2009: I file my taxes. In spite of the economy, my finances aren't too bad. I'm one of the lucky ones. I'm employed, and my income is trending up. I'm motivated to do even better in 2009. I'm going to move my checking and savings accounts to a community bank or credit union — finally!

September