Lending

As banks and credit unions both increase subprime auto lending, what concerns one analyst most is extending loan terms across all credit categories.

Taking a beating from manufacturer leasing deals, First Financial FCU fought back with a 2% cash-back offer that it expects will help return its auto lending to positive growth this year.

While most people might think of an open house as an event hosted by a Realtor, $106-million HomeTown Credit Union turned the tables a bit and welcomed real estate professionals into two of its branches with open houses of its own.

WASHINGTON – The Consumer Financial Protection Bureau said today it will be monitoring for discriminatory practices in auto lending, especially the practice known as “dealer markup,” which allows lenders and dealers to share in secret interest rate hikes.

PLEASANTON, Calif. – 1st United Services CU has joined with CU Realty Services LLC to use the CUSO’s turnkey, Web-based active lead channel.

WASHINGTON – In an unusual ouster bid, attorneys general in nine states called on President Obama and Senate leaders today to fire Ed DeMarco, the director of the Federal Housing and Finance Agency, which oversees Fannie Mae and Freddie Mac, charging the Bush-appointee with being a major impediment to resolving the ongoing foreclosure crisis.

Orion FCU is putting potential buyers into foreclosed homes as part of an innovative rent-to-own initiative.

HAMPTON ROADS, Va. – Langley FCU yesterday said it signed with Mortgage Cadence LLC to implement the company’s Symphony platform to support the credit union’s rapidly expanding mortgage program.

WASHINGTON – Mortgage rates climbed this week to their highest levels since last August, as stronger-than-expected employment growth drove up yields for the government securities that guide home loans, according to Freddie Mac.

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.