Posts Tagged ‘lender’

Industry Lender Announces Name Change

February 13th, 2017 Comments off

Credit: Credit Unions.

In a story that we first covered last week, San Antonio Federal Credit Union (SACU)/CU Factory Built Lending (CUFBL)/Mountainside Financial tells MHProNews that they have changed their name to Credit Human Federal Credit Union.

The change of name better reflects the credit union’s commitment to improving the lives of those they serve, regardless of location.


We are not merging, being acquired, changing our membership guidelines or management. Our products and services will remain the same,” the credit union told MHProNews.

The people you’ve known and worked with will continue to be there whenever they are needed. We are simply deepening our fundamental focus as an organization that positively affects the financial health of our members and the communities in which they live.

While the legal name change has already taken place, the full transition to the new Credit Human Federal Credit Union branding will be gradual, and is scheduled to take place over several months. Until that is complete, the credit union will continue to do business as SACU/CUFBL/Mountainside Financial using those brands and logos.

As Daily Business News readers are aware, the newly named Credit Human Federal Credit Union provides financing options for credit union members choosing manufactured housing as an alternative to traditional site-built homes. ##

The official announcement is linked here.

Question and answer information is linked here.

The official email sent to partners is linked here.


(Image credits are as shown above.)


RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

High Down Payments Still Roil Many in Industry

December 30th, 2011 Comments off

NationalMortgageNews tells a survey by mortgage lender Lending Tree reveals Americans who can afford to buy homes are putting 12 percent down on average, even more where the property is more expensive. While some regulatory proposals push for down payments of 20 percent in order to be exempt from risk retention, as in the Dodd-Frank Act, many in the mortgage industry advocate a rate as low as five percent down, while regulators say ten percent would be wiser. Policymakers are even suggesting Fannie Mae and Freddie Mac minimums need to be raised from the current five percent. Doug Lebda, Lending Tree chief executive says of the data, “You’re dealing here in averages. In this data some borrowers have put 40% down and some have put 5% down. I’m for the 5%.” New Jersey has the highest average down payment at 13.8 percent, followed by California at 13.6 percent, Washington, D.C. and NYC at 13.5 percent, and Hawaii with 13.4 percent. Home buyers in Utah, Tennessee, Wyoming, and Oklahoma averages the lowest with between 11.4 percent and 11.7 percent.

(Photo credit: NewsCourier/Rebecca Croomes)