Lending

Washington - The Federal Reserve's planned reduction in bond purchases will drive rates up 50 basis points over the course of 2014 as mortgage-backed securities spreads widen, agency forecasts say.

NEW YORK -- As the year winds down, consumer credit quality remains healthy, as the latest data shows stability in national default rates through November.

WASHINGTON -- A recent advisory from the Consumer Financial Protection Bureau continues to muddy the waters for credit unions trying to decipher seemingly conflicting messages from the bureau regarding its Qualified Mortgage (QM) rule that goes into effect in January.

ARLINGTON, Va. -- NAFCU "strongly opposes" recently announced mortgage loan fee and other changes by Fannie Mae and Freddie Mac.

Lower credit losses and higher premium revenues pushed the capital ratio of the Federal Housing Administration's mortgage insurance fund closer to positive territory and the agency says it is on pace to reach its statutory capital requirement two years ahead of schedule.

MARYVILLE, Mo. — Northwest Missouri Regional Credit Union is offering an unusual loan promotion that gives members 0% interest this holiday season and aims to boost local shopping.

EAST LANSING, Mich. — MSU FCU is doing its part to make sure the Michigan State University football team is well supported when they play Stanford in the Rose Bowl Jan. 1.

SCOTTSDALE, Ariz. — As the real estate market continues to make a comeback, CUs are turning to a CUSO to help them book more loans.

WASHINGTON — Recent remarks from Rohit Chopra, the Consumer Financial Protection Bureau's top official in charge of student lending, have warned that the trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis.

BEAVERTON, Ore. — Rivermark Community CU here cut rates on its credit card offerings by an average of 3.2 percentage points as part of a larger move to consolidate its cards program.

ONTARIO, Calif. — It's time credit unions mix in personal service and the human touch with their online car shopping services, according to CU Direct.

From a clever dealer compensation matrix that drives high-dollar loans, to a $2,500 sweeps, to an RV program that accounts for 60% of net auto loan growth, credit unions are taking on the tough auto loan competition from all angles.

SCHAUMBERG, Ill. — Amid all the fear about rising interest rates, new vehicle loans dropped to their lowest point since 2008, according to a new report released Wednesday by Experian Automotive.

BINGHAMTON, N.Y. — More CUs are slashing holiday loan prices, cutting rates to below 3% to give members a boost at year's end.

CHICAGO — Three years will likely pass before Alliant Credit Union and The Golden 1 CU reach $10 billion in assets. But that growth target is already on the radars of the $8 billion shops that are preparing today for how life changes once they move beyond the threshold.

RALEIGH, N.C. — Just in time for holiday shopping, ElecTel Cooperative credit union rolled out another of the quirky loan promotions that have been such a success for the $40 million institution in recent years.

MIRAMAR, Fla.—Tropical Financial CU here has brought back a "Black Friday" promotion it debuted last year and has seen great success in the promo's opening days.

HASTINGS, New Zealand — A credit union advertising campaign that looks like it was lifted straight out of the 1950s has prompted some emotional reactions and allegations of sexism from Kiwis.

PHOENIX — CUNA Mutual Group announced the winners of its annual Excellence in Lending Awards during the 2013 CUNA Lending Council conference here.

PHOENIX – Life after Fannie and Freddie and the tenuous future of the 30-year, fixed-rate mortgage may ultimately produce a finance industry that looks much different in the future.