Links in “Credit Unions”

If you’re like most credit unions, one of your major concerns this past year has been guarding against external cyber threats. However, one of your biggest threats may come from inside. This is a good time to take a close look at how you manage and monitor privileged access to your data and systems. [8/28/15]

The Federal Housing Administration has announced that Property Assessed Clean Energy (PACE) loans are subordinate to first-lien mortgages, which will allow these borrowers to refinance their first mortgages more easily. The Pace loan program is designed to finance environmentally friendly upgrades. [8/28/15]

After more than a year of controversy and accusations between the credit union management and regulators, the Alabama Credit Union Administration has placed Alabama One CU into conservatorship. The regulator said the officers and employees of the $598 million credit union had exhibited persistent patterns and practices of allowing insiders to have loans at preferential rates and terms, falsified information for insider loans, and accepted things of value in exchange for making loans. The regulator further stated that the credit union had lost $11 million in the past 18 months due to poor underwriting practices. [8/28/15]

FNMA (Fannie Mae) is offering a new mortgage option, called HomeReady, that will take into consideration multi-generational and extended household income. To participate in this program, which permits downpayments as low as 3%, applicants must first complete an online education course to prepare them for the home-buying process. [8/27/15]

The FBI has released sketches of three people they believe were involved in the abduction of both credit union and bank employees in Tennessee. The employees were then forced to withdraw funds from their financial institutions. The FBI is also offering a $20,000 reward for information that leads to the arrest of those involved in these crimes. [8/27/15]

The National Credit Union Foundation has opened the registration period for 2016’s first two Credit Union Development Education training sessions. The sessions, which only allow 42 attendees each, will be held on January 13-20 in Dallas and May 18-25 in Madison, WI. [8/27/15]

I guess they thought it was worth a try! Online job listing source, Career Builder, reports that 56% of managers surveyed have spotted lies on resumes; most related to job skill sets and job responsibilities. Here’s the top ten most ridiculous lies they discovered. [8/26/15]

The NCUA has instructed examiners that they can no longer accept files from credit unions if they are not encrypted by the credit union.  If the credit union is unable or unwilling to encrypt the files, then the credit union must send the files directly to the NCUA’s encrypted equipment. [8/26/15]

While CUNA is supportive of the NCUA’s proposed MBL rule that will eliminate many of the specific underwriting requirements in the current rule, the association recommends that credit unions have an opportunity to comment on the supervisory guidance issued prior to the finalization of the new MBL rule. [8/26/15]

Birmingham-based Avadian Credit Union buys Huntsville-based American Bank of Huntsville. [8/26/15]