Lending

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.

WASHINGTON – CUNA Mutual Group rolled out a new mobile car-buying app this morning at CUNA’s Governmental Affairs Conference that will assist credit union members in shopping for and purchasing a vehicle.

WASHINGTON – Mortgage rates held steady this week near all-time lows, according to Freddie Mac.

SAN JOSE, Calif. – Technology CU reported a surge in member business lending, closing $15 million worth of commercial real estate loans in December.

DUNCAN, Okla. – It took just 30 minutes for Halliburton Employees’ FCU to fund the first $500,000 of its 0.99% Valentine’s Day loan special.

Expect the auto auction lanes to be fuller this year, but that won't mean used car values will take a nosedive.

WASHINGTON – Long-term mortgage rates were unchanged this week, holding near all-time lows, according to Freddie Mac.

It can be easy to show good numbers following a merger, especially if absorbing a small credit union. What takes more work is creating a culture to hit those numbers organically.

A stronger housing market means its time to consider adding realty services.

Financial institutions in some states are paying deposit rates that are much higher than the national average, but institutions in those states shouldn't agonize too much about paying up for the funds.

Charlotte Metro CU here saw a nearly 50% increase in product openings after launching a direct mail campaign targeting specific demographics in its membership area.