Lending

NEW YORK – cuStudentLoans has launched a series of what it is calling entertaining, musical videos of “hip” puppets rapping about student loan issues and how credit unions can help.

ONTARIO, Calif. – CU Direct has contracted with San Diego-based First Associates Loan Servicing LLC to offer loan servicing to its 1,000 credit union customers.

Credit unions should prepare now for a consumer "frenzy" this summer that will be fueled by pent-up demand for durable goods, according to Brian Turner.

The $38-million Spartanburg Regional FCU was recently named by SNL Research as having the nation's lowest average rate on a 30-year mortgage, 2.50%.

WARMINISTER, Penn. – Freedom CU has awarded a week’s vacation at the New Jersey shore as part of its personal loan sweepstakes.

ALLEN PARK, Mich. – Rivers Edge Community CU said it has signed with the Mortgage Center CUSO to provide its members with mortgage financing services.

WASHINGTON – Mortgage were little changed this week, holding near all-time lows, according to Freddie Mac.

ALEXANDRIA, Va. -- Pentagon FCU unveiled a 0.74% rate today for online car loans provided through its car buying service as part of the credit union’s March Madness savings promotion.

WASHINGTON – The regulator for Fannie Mae and Freddie Mac announced a plan yesterday to create a new secondary market platform by combining the securitization operations of both companies through a new private entity that would be jointly owned by the two mortgage giants

With credit unions moving quickly to mobile, CUNA Mutual Group last week unveiled smartphone technology to help CUs make more auto loans-even allowing the CU to talk to members while they are on the dealer's lot.

There was widespread support among attendees at CUNA's Governmental Affairs Conference last week for passage of the latest Member Business Lending legislation, even as many of those same CU leaders said the cap on MBLs is not an issue for their own credit unions.

State Employees' CU slast week announced it has created a property management subsidiary, called SECU*Real Estate, to provide the credit union with the ability to streamline management of real estate property owned throughout North Carolina.

MADISON, Wis. – Summit is partnering with Milwaukee Energy Efficiency, dubbed Me2, to provide a special loan program for City of Milwaukee residents.

WASHINGTON – Average mortgage rates declined closer to historic lows this week, a trend that has helped drive a rebound in home sales.

RALEIGH, N.C. – The Support Center, a community development organization supported by five area credit unions, has introduced special loans for military veterans.

The release of a long-awaited federal rule on housing discrimination is bad news for lenders who fear being targeted in fair-lending suits, according to lawyers who represent the defendants in those cases.

With many credit unions contemplating outsourcing their mortgage servicing in the wake of potentially complex new rules from the Consumer Financial Protection Bureau (CFPB), one person is warning CUs still can be found liable for mistakes servicers make.

Credit unions are breathing a little easier that they will not be subject to the raft of new CFPB mortgage rules because they believe they're exempt may be in for a surprise.

The "good intentions" of new mortgage servicing rules proposed by the CFPB may ultimately lead to more consolidation, according to one forecast.

Laramie Plains FCU has grown its auto lending portfolio by more than $1 million since incorporating PassTime into its sub-prime vehicle lending program.