Lending

With used car values still at record highs and managing risk at the CU a growing concern, Black Book and Fitch Ratings have assembled a report to help lenders closely monitor vehicle depreciation.

Margin compression caused in part by lowering auto loan rates just to stay competitive has left most credit unions with little choice but to "reinvent" the auto loan process to cut costs.

Credit unions are picking up auto lending share from the big banks.

Recent used car depreciation levels indicate that full-size SUV values are holding, while the full-size crossover segement showed the biggest disappointment.

With uncertainty surrounding the future of Fannie Mae and Freddie Mac, one CUSO is developing a capital markets alternative credit unions can use.

Credit unions are not doing enough to generate more purchase-mortgage dollars going forward, according to David Bednar.

OKLAHOMA CITY – An automobile dealer was sentenced yesterday to 16 months in prison for bank fraud and ordered to pay Municipal Employees CU $200,800 restitution for a scheme in which he used the same cars on his lot to collateralize loans from the credit union and another lender.

WASHINGTON – Mortgage rates fell this week, in reaction to news of slower growth in the economy, according to Freddie Mac.

WASHINGTON -- The Consumer Financial Protection Bureau this morning announced four civil enforcement actions to end what the Bureau believes to be improper kickbacks paid by private mortgage insurers to mortgage lenders in exchange for business.

WASHINGTON – Fannie Mae, the secondary mortgage market giant run under government conservatorship since September 2008, reported $7.6 billion in profits for the fourth quarter of 2012 and a record $17.2 billion for the year, the latest signal that the mortgage crisis is near an end.

Citing some of the toughest auto lending competition in years, credit unions in a number of markets have found auto dealers pressing lenders to offer greater flexibility in how they pay the dealership for indirect business.

Pent-up demand for new cars may have come and gone, cautions one analyst who points to dealer data that indicates consumers are slowing down new car purchasing.

WASHINGTON – Mortgage rates tipped up this week amid an expanding housing market, according to Freddie Mac.

RALEIGH, N.C. – Electel Cooperative FCU’s two-day St. Patrick’s Day “Lucky Loan” promotion, held Friday, March 15 and Monday, March 18, offered personal loans for 12 months at 1.9% or 24 months at 2.9%.

DAYTON, Ohio – Mid USA CU has provided a $2.35-million loan to finance acquisition of a 111-unit apartment building in nearby Trotwood.

Two credit unions on opposite sides of the United States are putting a twist on the usual loan balance transfer promotion with a "coopetition."

Auto leasing has made a comeback, reaching its highest levels since 2008, when the recession began pulling millions of lease customers out of the market.

New car loan rates just keep dropping.

The Consumer Financial Protection Bureau may be zeroing in on buy rate financing, a move that could help level the indirect auto lending playing field between banks and credit unions.