Lending

The $241-million Clackamas FCU here has turned a Credit Union Journal article into its own success story with a 1%-off, one-day loan sale that booked big numbers.

MADISON, Wis. – CUNA Mutual Group announced this morning that it and its partner PMI Mortgage Insurance have agreed to sell their joint venture, CMG Mortgage Insurance Co., the biggest provider of private mortgage insurance to credit unions, to Bermuda-based Arch Capital Group Ltd. and its U.S. subsidiary, Arch U.S. MI, for $300 million.

WASHINGTON – Home mortgage rates fell back again toward record lows this week, after rising the past few weeks, according to Freddie Mac.

PLANO, Texas – Catalyst Corporate FCU announced it will roll out an agent loan participation program in the next few weeks that will connect credit unions that want to sell loans with those that want to purchase an interest in a loan pool.

What can make a cash-back loan program perform even better? Let members talk about it.

The $1-billion Meriwest Credit Union is using predictive analytics to identify potential borrowers.

Cash in hand can be more attractive than a sub-2% rate, says CitizensFirst CU, which ran a cash-back promo that boosted auto lending by 252%.

Having raised nearly $400,000 for the city of Hutchinson since 1997, Hutchinson CU is preparing a slight revamp to its affinity card program after usage has dipped in recent years.

Advantis Credit Union says its Rehabilitation Mortgage Program is helping to revitalize the communities it serves, boosting its bottom line, and increasing exposure of the $1-billion CU and its mortgage department.

WASHINGTON – Mortgage rates moved higher this week as Treasury rates trended higher last week, according to Freddie Mac.

DuPont Community CU used a sweepstakes to take auto lending from flat to 10% growth.

SAN JOSE, Calif. – Technology CU on Thursday announced it now offers super jumbo loans up to $8 million on adjustable-rate mortgages and $3 million on fixed-rate mortgages.

WASHINGTON – Fannie Mae and Freddie Mac announced last week they have approved National Mortgage Insurance Corp., a newly chartered private mortgage insurer formed by one-time executives at financially troubled PMI Group, as eligible to provide private mortgage insurance for loans they buy.

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

WASHINGTON – The Consumer Financial Protection Bureau continued its rewrite of the rules covering mortgage transactions by setting new rules this morning governing servicing, the latest effort at curbing the abuses recorded during the mortgage crisis.

MIAMI – Dade County FCU has signed with Auto Financial Group of Houston to offer the company’s DrivingSense balloon loan program.

AUSTIN, Texas – Amplify CU has signed with Auto Financial Group of Houston to offer the company’s DrivingSense balloon loan program.