ALEXANDRIA, Va. - (09/20/04) -- Shiloh of Alexandria FCU willintroduce a mortgage lending program next week that will help its700 members buy their first homes. The mortgages will be providedthrough CU National Mortgage Corp., a subsidiary of U.S. MortgageCorp., and Fannie Mae has pledged to buy the mortgages made by the$1 million credit union. NCUA Board member Deborah Matz, who helpedorganize the program, as well as Alexandria Mayor William Euilleand Congressman James Moran, will help kick-off the program duringa ceremony Sept. 30 at Shiloh Baptist Church, the credit union'schief sponsor.
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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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