Press

CUNA Mutual Hosting July 18 Webinar On Proposed Qualified Residential Mortgage

NEWS RELEASE:
From CUNA Mutual Group Public Relations
www.cunamutual.com

For more information:
Phil Tschudy 608.231.7188 philip.tschudy@cunamutual.com
Marisa Rawling 415.284.2519 marisa.rawling@cmgmi.com

MADISON, Wis. – CUNA Mutual Group will host a major industry panel webinar at 1 p.m., CDT, Monday, July 18, on proposed Qualified Residential Mortgage (QRM) rules that, if enacted as proposed, could negatively affect credit unions and their members.

The webinar, “Update on Proposed Qualified Residential Mortgages (QRM) Rules: Why Credit Unions Should Care,” will feature representatives from the Credit Union National Association, PricewaterhouseCoopers, and CMG Mortgage Insurance Company (CMG MI).

As required by the recently enacted Dodd-Frank regulation, federal regulators are working on rules that will define which mortgages are exempt from the risk-retention requirements and will, consequently, be identified as Qualified Residential Mortgages.

These proposed rules were released in draft form for public comment earlier this year. Currently very restrictive in their language, the rules as drafted could limit many members’ eligibility for QRMs and reduce the ability of credit unions to compete against large financial institutions.

The webinar will feature a panel of industry professionals discussing the proposed rules and the related risk-retention requirements, as well as the potential impact on the credit union mortgage lending business and members’ opportunities for homeownership.

Webinar presenters include:

Mary Dunn, senior vice president, and deputy general counsel, Credit Union National Association;
Joel Luebkeman, director, marketing and product development, CMG MI;
Steve Robertson, managing director, PricewaterhouseCoopers; and
John McKechnie, senior vice president, Total Spectrum

The webinar will be moderated by Christopher Roe, CUNA Mutual senior vice president of corporate and legislative affairs.

Webinar attendees will be encouraged to submit comments opposing the current form of the rules to the Office of the Comptroller of the Currency by the Aug. 1 deadline, through this link.

CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. With more than 75 years of true market commitment, CUNA Mutual’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s Web site at www.cunamutual.com.

CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc. Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wis.

CUNA (Credit Union National Association), based in Washington, D.C., and Madison, Wis., is the premier national trade association serving America’s credit unions. The not-for-profit trade group is governed by volunteer directors who are elected by their credit union peers.