LAS VEGAS — Housing finance executives whose credit unions book a significant number of adjustable rate mortgages said the loans offer their members a lower cost mortgage deal than 30-year fixed rate obligations.
That was the one of the insights shared during a Tuesday breakout session at the American Credit Union Mortgage Association's annual conference at the Encore in Las Vegas, which kicked off Sept. 14 and wraps up Wednesday.
Tim Mislansky, chief lending officer at the $3.8 billion Wright-Patt Credit Union Inc. in Beavercreek, Ohio, and president of myCUmortgage, the credit union's wholly owned mortgage CUSO, joined Craig Olson, SVP of first mortgage operations at the $18 billion Pentagon Federal Credit Union in Alexandria, Va., and housing finance consultant Tracy Ashfield on a panel to discuss ARMs at credit unions.
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