CU Members Mrtg Extends EducationDALLAS-CU Members Mortgage said it has committed to educating its credit union partners-along with other interested industry representatives-to keep staff prepared for change. Topics it provides for its client partners include: SAFE Act, including Loan Officer compensation and NMLS requirements; Qualified Residential Mortgage (QRM), secondary marketing; FHA Origination; Fannie Mae LQI, and; maximizing income while minimizing risk in mortgage lending.For info: www.cumembers.comSynergent, MVFCU To PartnerPORTLAND, Maine-Merrimack Valley FCU has signed an agreement to join Synergent Card Services Debit/ATM card processing. The $431-million CU currently partners with Synergent Technology Services and the Episys core processing solution.For info: www.synergentcorp.comCUES Partners With BVS PerformanceMADISON, Wis.-The Credit Union Executives Society and Cedar Rapids, Iowa-based BVS Performance Systems have signed an agreement to offer online education to credit unions.For info: www.cues.orgLPL Financial Recognizes MACU SALT LAKE CITY-The investment services program offered at Mountain America CU has been named LPL Financial's 2011 Program of the Year.For info: www.lpl.comS1 Corp Combining With FundtechATLANTA-Online services provider S1 Corp. said it is combining with Fundtech Ltd., a Jersey City-based provider of software and services, in a stock-swap merger of equals. The combined company will be based at S1's headquarters in Atlanta and will be called Fundtech.For info: www.s1.comNSCU Names Cathedral As PartnerROME, N.Y.-Cathedral Corp. has been selected by NAFCU Services Corp. as its Preferred Partner for printed and electronic financial communication programs, personalized direct mail and e-marketing services.For info: www.nafcu.org/nafcuservicesWesterra CU Chooses CO-OPRANCHO CUCAMONGA, Calif.-The $1.2-billion Westerra CU, Denver, has chosen CO-OP Financial Services for credit card transaction processing as part of a program to increase member use of its cards and drive efficiencies. For info: www.co-opfs.orgMember Referral Program LaunchedCLARK, N.J.-CU Student Lending, marketer of the cuStudentLoans private student loan program, has rolled out a member referral program that allows credit unions outside of the CU Student Lending network to offer loans to members. For info: www.custudentloans.org
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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