On Deadline.(fall in CheckFree Corp. share prices)(National Credit Union Administration takes over Huron River Area CU)(Sallie Mae cahges marketing of its student loans)

From: Credit Union Journal | Date: April 16, 2007 | Copyright information

Mortgage Woes Tied to NCUA's Takeover Of CU

ANN ARBOR, Mich.-The collapse of the housing market almost 2,500 miles away, on Florida's Gulf Coast, is being cited as one of the major reasons for the NCUA takeover of $350-million Huron River Area CU, two months ago. Dozens of members took out loans to build homes in the Ft. Myers area only to see the loans plunge because of a collapse in the local housing market. At least half a dozen of the members have filed suit in Lee County court against the builders, First Home Builders, a subsidiary of Hovnavian Enterprises, and ...

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