Lending

Lending is up significantly at two business lending CUSOs, and both are thanking banks for a chunk of the increase.

As a recovering banker, Joseph Anderson knows that any financial institution's success is built on its lending program. Eleven years ago Anderson brought that awareness with him from the banking world to AmeriCU Credit Union and has used it to help drive the institution's growth and profitability.

OAK RIDGE, Tenn. – ORNL FCU said it is promoting local businesses this month with a Cash Mob campaign.

WASHINGTON – Long-term mortgage rates dipped this week, after rising five of the past six weeks to two-year highs, according to Freddie Mac.

DUBUQUE, Iowa – DuTrac Community CU has partnered with Sallie Mae to offer its members a private education loan program, the Smart Option Student Loan.

WASHINGTON – Students who take out a subsidized government loan beginning this week will see their interest rate more than double to 6.8%.

Expect the second half of 2013 looks to bring a slow but steady increase in mortgage rates as the Fed begins to reduce the amount of mortgage-backed securities being purchased as Q3 winds down.

Bank of America's recent attempts to get some existing mortgage customers to refinance sounds eerily like a sales pitch from the bubble days of 2005.

ONTARIO, Calif. – Credit Union Direct Lending (CUDL) has surpassed 10,000 dealers in its network.

WASHINGTON – Longtime mortgage rates climbed more than half-a-percentage point this week – the highest one-week increase in 25 years – amid concerns the Federal Reserve will wind down its stimulus program.

PHOENIX – Arizona State CU is celebrating July 4th with a display of all 27 congressionally approved versions of the U.S. flag at its headquarters.

CAPE MAY, N.J. – Jersey Shore FCU said it already has met its goal of $500,000 in member savings by refinancing loans – and has doubled the goal to $1 million.

JACKSONVILLE, N.C. – Marine FCU has signed with CRIF Lending Solutions to implement the company’s CRIF ACTion loan and account origination platform.

WASHINGTON – A bipartisan group of senators will introduce a bill later today that would wind down Fannie Mae and Freddie Mac and replace them with a government reinsurer of mortgage securities that would backstop private capital in a crisis.

RENO, Nev. – Great Basin FCU has hired J.R. Bruno & Associates to help it create an SBA and member business lending program.

WASHINGTON – Sen. Elizabeth Warren called on the Federal Housing Finance Agency this morning to provide details of Sallie Mae’s funding through the Federal Home Loan Banks—reserved by law for mortgage financing—in light of the student loan giant’s growing dominance in the market for private student loans.

After the "mess" of the recession, Andrew Bieno says some credit unions have become overly cautious with auto lending.

LENEXA, Kan. – CommunityAmerica CU said its TruHome Solutions CUSO that provides mortgage services to credit unions around the country, has opened a new operations center and expects to hire 400 to 500 people over the next few years.

AUSTIN, Texas – The Texas State Supreme Court on Friday ruled illegal two major provisions of the state’s home equity rules, the latest setback in a two-decade battle.

WASHINGTON – Long-term mortgage rates declined this week after increasing for the previous five weeks in a row, according to Freddie Mac.