Laura Skiles

Two years ago, Filene published a report outlining the transformational change necessary for credit unions to confront and adapt to the increasingly severe impacts of climate change: https://lnkd.in/gkCGf2R6 Within the research, Inclusiv* CEO Cathie Mahon states, "as climate-related events accelerate, we can expect outsize impact on our most vulnerable people and communities." This research report offers an overview of the implications of climate change for credit unions, and recommendations for more effective climate risk management. It describes the climate-related physical and transition risks facing credit unions, the potential impact of climate change on credit unions, the current state of credit union approaches to climate change, and the opportunities available for credit unions from climate adaptation finance. It also provides concrete recommended actions that individual credit unions can take to begin to measure and mitigate the impacts of climate change on their organizations and the credit union system. *Huge congratulations to Inclusiv for being selected for a $1.87 billion grant through EPA’s Greenhouse Gas Reduction Fund!! Thank you to report authors George Hofheimer, Taylor Nelms and Jim Scott, CFA. #HappyEarthDay

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📰April's most read #PCBBBID article provides insight into how #communityfinancialinstitutions can make the most of CRE opportunities. Learn how ➡️ https://lnkd.in/gmQ_CYmX

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Here is a sampling of our most pivotal research from each decade over the past 35 years. What Filene research report has been most impactful for you? The Changing Climate for Credit Unions: https://lnkd.in/gkCGf2R6 The Credit Union of the Twenty-First Century: https://lnkd.in/g8vwfgqp Strategy Errors Made by Even the Smartest CEOs: How to Avoid them in Credit Unions: https://lnkd.in/gkvxyM4u An Analysis of Public Policy on Credit Union Select Employee Groups: https://lnkd.in/gY3kDJkx FIRST FILENE REPORT-- Field of Membership: An Evolving Concept: https://lnkd.in/gsqj7b9a #35YearsofFilene

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Credit quality holding steady among U.S. cities in post-COVID recovery, though commercial real estate, sluggish revenues, and rising costs pose medium-term challenges. https://okt.to/yPIgYV

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There is "a broader trend in which regulators react much more quickly to any concerns they may have, handing out MOUs like traffic tickets, matters requiring attention (MRAs), matters requiring immediate attention (MRIAs) and downgrading CAMELS ratings instead of giving out warnings" Commercial Real Estate "Community banks should come armed with detailed data and presentations on their CRE books, pointing to aspects such as owner versus non-owner occupied, geographic makeup & property type, Seigel said. Banks should also conduct stress tests on the portfolios" Contact CEIS Review for your CRE portfolio credit evaluation and commercial portfolio stress-testing needs - CRE, C&I, and Construction Projects.

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State general fund revenue growth continues to moderate following the two fastest-growing years for general fund collections in Fiscal Survey history in FY 2021 and FY 2022 and reflecting the effects of recently enacted tax cuts. https://bit.ly/3zVWfBJ

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📢 Attention Property Owners! DHCR has released the latest CPI and HUD/FMR numbers crucial for Good Cause Eviction compliance. 🔍 Key Highlights: CPI Update: The current allowable rent increase is now 8.82%, derived from the latest CPI figure of 3.82% plus 5%. HUD/FMR Insights: For exemptions from Good Cause Eviction, consult the new county-by-county chart for apartment-specific figures, which are set at 245% above HUD/FMR. 📖 For a detailed breakdown and continuous updates, follow our posts and read the official DHCR notice for May 2024: "Good Cause Eviction Law Required DHCR Notice". 👀 Stay tuned as more information unfolds. We're here to keep you informed every step of the way! #PropertyManagement #RealEstate #NYCRealEstate #DHCR #CPIUpdate #HUD #RentalCompliance #GoodCauseEviction

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Now more than ever, it is essential to have an accurate view of your CECL reserves. Looking more closely at the recent CU Times report on 1Q24 credit union earnings, what stands out is the volatility in provisions for loan losses, which have a major impact on the bottom line. You don’t need to be a top-10 credit union for CECL reserves to have a dramatic effect on one’s earnings performance. With originations down and more credit unions turning into participation buyers, be sure to have a trusted CECL analytics solution in place to set aside credit loss reserves that most accurately reflect the profile of your participation portfolio. You can learn more about LoanStreet’s solution here. https://bit.ly/3WwtyJr Read the CU Times report: https://bit.ly/3WwMSpT

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The #FederalHousingFinanceAgency on April 16 issued a notice and a request for comment related to a proposal whereby Freddie Mac could purchase single-family CES #mortgages. This report explores the proposal’s potential overlap with the existing second lien PLS market and the effects the program may have on the size and risk profile of the PLS market post-adoption. Read the full report here: https://lnkd.in/d4qYQtWm | #structuredfinance #RMBS #insightfulresearch

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Anyone expecting a flood of #foreclosure activity after reading about rising rates of consumer delinquencies in credit card and auto loan payments must be scratching their head right about now. Record equity, excellent loan quality, and extremely aggressive loss mitigation and loan modification work by #mortgage servicers are combining to keep overall foreclosure activity well below pre-pandemic levels. Still, the Hello Solutions Network can provide excellent legal support for your default servicing needs - no matter how few foreclosures you need to execute.

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April data is showing that the expectation that interest rates will remain “higher for longer” has amplified concerns about commercial lending performance, with apprehension around CRE lending and consumer portfolios accounting for most of the negative sentiment. We’re also seeing that key performance indicators for commercial loan performance and credit quality remained mixed through April, with past due and nonaccruing loan levels moderating while criticized loan levels continued their upward trajectory. Conversely, inflation cooled in April for the first time in months. Read more about these and other important trends now in the AFS Commercial Credit Quality Bulletin! https://lnkd.in/eYEDSNkB #CommercialLending #CommercialCredit @RMAHQ #RMACRNpoweredbyAFS

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Looking ahead to the next five years in the housing market? Bankrate offers insights into the forecast. Recognizing the significance of preparation and risk mitigation, we provide #BudgetReviews and #InspectionSolutions tailored to facilitate expansion into new territories. https://lnkd.in/eX-wne8w #ProjectCenterline #RealEstate #RealEstateInvesting #ProjectManagement #HousingMarket

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Last week, we wrote about the “amend and extend” boom that might be expected as banks work through a 525bps rate increase in less than 18 months. This week, Moody’s warned another group of regional banks that are on the edge of downgrade due to CRE exposure. While much was made over the poor risk management at SVB that led to inexplicably unhedged long-bond positions, most lenders understand that years of debt securities and assets priced well under today’s yields lead to a somewhat illiquid “hold-to-maturity” position for too much of the portfolio. Read The Full Article: https://lnkd.in/evU8ziaU #monitor #suite #equipment #finance #charts #of #the #week #banks

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Federal Reserve Governor Lisa Cook spoke earlier this month on how she views CRE risk as sizable, but manageable. She explained that the committee will routinely monitor funding risk, risk appetite, and asset valuations. Cook explains that, “supervisors are working closely with the set of banks that have experienced outsized fair-value losses from higher interest rates and with banks that have high concentrations of commercial real estate loans,” but that not all CRE loans are automatically problematic. She goes onto explain that if you look at the broader trends, that values of multifamily properties have dropped over the past year while values of office buildings have been most affected by lifestyle changes, and it is these trends that present challenges for property owners and lenders who will need to make the proper adjustments as those outstanding loans come due. While CRE loans make up about 30% of commercial banks assets, it is those high concentrations that cause community banks to need to step up their risk management to ensure their portfolio is adjusted properly to cover all outstanding loans coming due. With more than $3 trillion in outstanding debt backed by commercial real estate, it is more important than ever to have a strong analysis software like Qualtik on your side.  https://lnkd.in/gVNJ6W_m Learn more about Qualtik: www.qualtik.com #loanportfolioanalysissoftware #CREportfoliostresstesting #builtforcommunitybanks #CREportfolioriskmanagement

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U.S. banks are building more branches for the first time in a decade. But materials and labor cost increases mean that a project completed in 2021 would cost about 15% more to complete today. See what our design and construction experts recommend to ensure clients get the right value for their projects.

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PeoplesBank and Cornerstone Bank have announced an agreement to combine their holding companies. While the merger agreement will unify holding companies, both banks will continue operating under separate names and brands for the foreseeable future.   What does this mean for our customers? Nothing, really. There will be no changes to accounts, products, hours, locations….anything at all. No changes.   What does this mean for our associates? More opportunities for growth and advancement.   What does this mean for our communities? More support, more volunteerism, and best of all, more Real. Simple. Banking.   For more information https://lnkd.in/e_ib7JVu   Pictured: Todd Tallman, CEO, Cornerstone, Tom Senecal, CEO, PeoplesBank #BankAtPeoples

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according to Globest, Banks Have Another Reason to Scale Back CRE Lending. They found that those banks with high exposure to CRE loans tended to have “relatively fewer liquid assets on their balance sheets, lower capital ratios (that is, more leverage), a larger share of their liabilities in the form of deposits, and a larger share of their assets in the form of loans." Read more here. #CRE #Banks #Loans

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