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Blog

Risk Rating 2.0 - Much Needed Modernization of Flood Risk Assessments

Submitted by Unitas Financial Services on April 22, 2021

In this post we dive into Risk Rating 2.0, FEMA's National Flood Insurance Program's new risk model. What began as a program in 1968, FEMA’s National Flood Insurance Program (NFIP), is undergoing a massive modernization effort in order to better assess a property’s flood risk. Risk Rating 2.0, first introduced in 2019, is the first major change to how properties are assessed for flood risk under the NFIP since the early 1970s.

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Mortgage Moratorium - Unitas Financial Services

Submitted by Brian Barnett on March 15, 2021

The Mortgage Bankers Association estimated 2.7 million homeowners are currently in some form of forbearance, and for almost four months now, lender forbearance portfolio volume has hovered between 5% and 6% — since the MBA survey began in May. Managing all those forbearances has put a tremendous amount of work on mortgage servicers as some companies have had to hire hundreds of employees to carry out more customer support, putting a heavy emphasis on avoiding foreclosure.

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How Interest Rates May Affect Your Lending In 2021

Submitted by Blaine Moricle on March 01, 2021

There are many adjectives I have heard to describe 2020. Some of these may be considered R-rated so I am reluctant to repeat them here! However, some of the G-rated adjectives are wild, busy, unusual, odd, strange, and frustrating. One word I have not heard to describe 2020 was uneventful.

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2021 Lending and Delinquency Forecast

Submitted by Unitas Financial Services on February 15, 2021

The COVID-19 pandemic has had a devastating effect on economies globally. Almost daily, there's news of businesses closing down and employees being laid off or facing salary cuts.

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Supporting the Communities We Serve

Submitted by Brian J. Ruhe on January 29, 2021

Support of their local communities has long been a focus of community lenders. Credit unions and community banks across the country are known for their reinvestment into the towns and cities they serve. Charitable giving can take a variety of forms – many times focused on causes and organizations unique to each area of the country. Especially during these difficult times surrounding the Covid-19 pandemic, support of these local organizations and charities is of the utmost importance. This fact has not been lost on credit unions and community banks, and many have stepped-up remarkably in this support during these challenging times. 

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2020 Open Doors to Greater Efficiency for your Bank or Credit Union

Submitted by Jim Perry on January 15, 2021

When 2020 started, we were not aware that phrases like “new normal” and “unprecedented” would become the vernacular of business professionals across America. After a short while, it got to the point where those phrases would be muttered with a semblance of sarcasm at the start of each virtual meeting or phone call. Towards the end of the year, I could feel a sense of hope that 2021 would be a new year, where things would end up going back to the “old normal” in some capacity.

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