Lending

NEW YORK – cuStudentLoans, a private student loan and private student loan consolidation program through a CUSO owned by 160 CUs, said it has developed a new private student loan refinancing program for joinStampede.

MADISON, Wis. – Credit unions are showing a “healthy” 5.2% annual growth in lending, according to analysis of Q1 data by CUNA Mutual Group’s Trends Report.

WASHINGTON – The House Financial Services Committee will roll out a bill to scale back the Federal Housing Administration’s single-family program in the “next month or so,” according to Rep. Randy Neugebauer, R-Texas.

NEWPORT BEACH, Calif. – At least one analyst is bucking the conventional wisdom that says Fannie Mae and Freddie Mac need to be reformed to encourage private capital to move back into the housing market.

ONTARIO, Calif. – More credit union members, especially younger ones, are placing as much emphasis on convenience as rate when shopping for a car and closing the loan.

WASHINGTON – Home loan rates moved up this week, after declining the previous four weeks, according to Freddie Mac.

WASHINGTON – Fannie Mae, riding the crest of the mortgage market recovery, reported a $58.7 billion first quarter net this morning, much of it from a one-time accounting move that allowed the company to lower its tax liability.

WEST JORDAN, Utah – Mountain America CU said it has added paperless origination to its Quick Close mortgage process.

WASHINGTON – Freddie Mac reported a $4.6 billion profit for its fiscal first quarter this morning, its second highest ever and another sign of the recovering mortgage market.

OLYMPIA, Wash. – Generations CU, in partnership with Thurston Energy, is buying down the interest rate on loans for qualifying home energy efficiency projects.

SAN DIEGO – San Diego County CU announced it is eliminating all closing costs on its 5/5 ARM for all home purchases and refinances up to $1.5 million.

HERNDON, Va. – Northwest FCU is hailing a 14-year-old entrepreneur its youngest member to open a business account. The youngster started an ice cream franchise that has grown into a local rage, with a website, a menu of flavors and shelf space at neighborhood stores.

WASHINGTON – Mortgage rates declined this week for the fifth week in a row, inching nearer to record lows, according to Freddie Mac.

WASHINGTON – The White House announced this morning it plans to nominate 11-term Democratic Rep. Melvin Watt, a strong credit union supporter, to head the Federal Housing Finance Agency, which regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.

WASHINGTON – U.S. Senate FCU has chosen LendKey, known until recently as Fynanz, to provide it with a platform to offer private student loans and private student loan consolidations through its cuStudentLoans program.

SUITLAND, Md. – Andrews FCU has selected LendKey, known until recently as Fynanz, to provide it with a platform to offer private student loans and private student loan consolidations through its cuStudentLoans program.

WASHINGTON – Mortgage rates fell for the fourth straight week, with the average for the 15-year loan dipping to a new low, according to Freddie Mac.

WASHINGTON – Mortgage lenders received welcome news in the form of clarifications and changes to the voluminous new mortgage rules released in January by the Consumer Financial Protection Bureau.

EAST HARTFORD, Conn. – American Eagle FCU, the state’s second biggest credit union, said it is now longer offering member business loans because of inaction by Congress in increasing the MBL limit.

VIENNA, Va. – Navy FCU, which has emerged as the Washington-area’s leading mortgage lender, said this morning it is offering members 100% financing on home loans.