Lending

The Mortgage Bankers Association is honoring Pentagon Federal Credit Union in Alexandria, Va., for providing affordable housing and post-deployment assistance to military families and war veterans.

The GSE regulator's second attempt to stimulate the mortgage market is receiving a lukewarm reception from lenders, who remain gun-shy after being forced by Fannie and Freddie to repurchase billions of dollars in soured loans since 2008.

Regulators recently offered a rare behind-the-scenes glimpse of what areas they are targeting for enforcement, saying that potential fair lending violations and how mortgages are priced and serviced remain top priorities for the future.

Notre Dame FCU in Notre Dame, Ind., has begun offering SBA commercial loans.

WASHINGTON — The merger agreement between the Federal Home Loan Banks of Seattle and Des Moines contains a little-noticed provision that would force one of them to pay a $57 million penalty if it break off talks.

WASHINGTON — NCUA and NAFCU say the Department of Defense's proposal to expand the list of credit products covered by the Military Lending Act's 36% rate cap could hurt credit unions and their members.

PHOENIX — Ask a simple question; get a phenomenal response.

The Federal Financial Institutions Examination Council released its annual Home Mortgage Disclosure Act dataset on Monday for the 2013 calendar year.

Regulator priorities used to be somewhat clear – making sure lenders were originating and servicing residential mortgage loans in accordance with applicable requirements. But more recently the focus has been on fair lending and disparate impact.

MEDLEY, Fla. — With almost no public transportation in its service area, Compass Financial FCU realized it needed to do more than just give its members an auto loan. The CU also needed to help members keep their cars on the road.

BEAVERCREEK, Ohio — Though the refinance boom is over and several mortgage giants are reeling as originations decline, some credit unions are thriving as they tap into a new source — first-time home buyers.

National Credit Union Administration board member Rick Metsger said a Federal Housing Finance Agency proposal to restrict Federal Home Loan Bank membership could give banks an unfair advantage over some smaller credit unions.

RALEIGH, N.C. — Continuing its trend of red-letter-day loan promotions, ElecTel Cooperative FCU here is set to hold a limited time loan campaign tied to "International Talk Like A Pirate Day."

WASHINGTON — Credit unions and community banks are pushing back against a plan unveiled by the Federal Housing Finance Agency this week to restrict membership in the Home Loan Bank System.

FERGUSON, Mo. — A family restaurant near the center of where much of the violence in this city has occurred is still open, thanks in part to a $5,000 0% loan from Alliance CU.

KENSINGTON, Md.—A partnership between Lafayette FCU and Hitachi Government Finance is providing the CU some new business lending benefits.

WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process.

EAST HANOVER, N.J. — Symbionce Financial Solutions LLC, a credit union service organization that offers mortgage services to CUs, on Thursday was ranked number 945 on Inc.magazine's eighth annual Inc. 500|5000.

LAGUNA HILLS, Calif. — As if credit union mortgage lenders did not have enough to contend with already, the Consumer Financial Protection Bureau has proposed numerous changes to the way home loan data will be collected — and possibly reported publicly.