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Tag Archives: community banks

Balloon mortgages will live on in rural Mississippi counties

Mortgage lenders operating in 34 of Mississippi’s 82 counties can continue to make balloon-payment mortgages under a special exemption the U.S. Consumer Financial Protection Bureau has granted counties it designated as “rural” or “underserved.” Lenders in the exempted counties that meet specific requirements can continue making the balloon-payment mortgages without fearing the legal liabilities that will be faced by their ...

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Antics of big banks give credit unions, community banks early holiday gift

Mississippi credit unions saw ‘some activity’ from ‘Bank Transfer Day’ while community bank Renasant grew accounts in state markets by 32 percent Breaking up isn’t so hard to do, after all. At least that’s what the Credit Union National Association reported a few days after the Nov. 5 national “Bank Transfer Day,” a protest staged to show dissatisfaction with the ...

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