NEW BRIGHTON, Minn. - (08/24/04) -- CU Companies Inc., a CUSO owned by54 Minnesota credit unions, said its CU Mortgage Inc. subsidiary isnow offering a 40-year, fixed-rate mortgage. The 40-year loan willrequire a 5% down payment and will be offered at competitiveinterest rates. The longer amortization schedule will enableborrowers to increase their purchasing capacity by lowering monthlypayments.
American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Organizers of the Winter Park-based Portrait Bank said they exceeded their capital-raise target by a wide margin, clearing the path for a June soft launch.
