Mortgage Insurance Updates; Credit Union Shuts Down; HUD Accepts Electronic Signatures; Wells Reminds About Appraisal Flipping
Posted To: Pipeline Press
Recently I saw an interesting new story headline. "Kids Make Nutritious Snacks." (Do they taste like chicken?) The FDIC shut down Beach First National Bank, and the branches have re-opened this morning as Bank of North Carolina . Per the press release, Beach First was heavily invested in coastal real estate development. But banks are not the only savings institutions that are shut down. Connecticut's South End Mutual Benefit Association , which has been around since 1945, has passed a resolution to cease operation and terminate its business, and has petitioned the National Credit Union Administration (NCUA) as receiver. With a credit union, accounts are insured up to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF) - a federal fund managed by NCUA and...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.