Lending

WASHINGTON – A leading credit union executive urged lawmakers this afternoon to maintain a role for the federal government in whatever reform scheme they adopt for the secondary mortgage market, even as a House proposal would eventually phase out the government role.

WASHINGTON – Department of Commerce FCU has selected LenderLive Network to service loans and manage document services.

WASHINGTON – Credit unions are selling increasing amounts of their record mortgage loans on the secondary market, almost all of them to Fannie Mae and Freddie Mac.

JAMESTOWN, Penn. – USSCO Jamestown FCU has developed a marketing agreement with Unifirst Mortgage Corporation it says will enable members to avoid the upfront fee other mortgage providers typically charge.

WASHINGTON – Mortgage rates resumed their climb this week, after they declined last week for the first time in six weeks, according to Freddie Mac.

WASHINGTON – House Republicans on Thursday proposed legislation that would eliminate Fannie Mae and Freddie Mac within five years and all but remove the government guarantee on mortgages, putting it at odds with a Senate bill tackling the issue.

PLANO, Texas – Catalyst Corporate FCU said it plans to roll out an agent loan participation program, now that NCUA has finalized its new regulations on participations.

WASHINGTON – NCUA and banking regulators on Wednesday issued a proposed rule that would create exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans.

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.