Lending

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.

ALEXANDRIA, Va. – Credit unions offering higher-risk mortgages, those with above-average interest rates, will need to get written reports by certified appraisers who physically inspect the inside and outside of homes, under new rules being issued by NCUA and the banking regulators.

TAMPA, Fla. – GTE Financial announced this morning it has become one of a handful of credit unions-the first outside the Washington metro area—to offer its members the HarmonyLoan, allowing the borrower to adjust the interest rate on their mortgage or car loan with a single click of the mouse.

WASHINGTON – Home loan rates moved slightly again this week, reaching the highest level in eight weeks, according to Freddie Mac.

WASHINGTON – The new House Financial Services Committee Chairman, an ardent opponent of the Consumer Financial Protection Bureau, questioned the legality of the fledgling agency this afternoon, even while promising Congressional review of new mortgage rules issued by the agency this morning.

WASHINGTON – The Consumer Financial Protection Bureau set new rules this morning that will require credit unions, banks and other mortgage lenders to determine a borrower’s ability to repay their loans before approving a mortgage.

NEWPORT NEWS, Va. – Langley FCU yesterday announced it is now offering private student loans through CU Student Choice.

PHILADELPHIA -- A local mortgage broker has pleaded guilty to masterminding a $4-million mortgage fraud he ran through Police & Fire FCU.

WASHINGTON – The new Chairman of the House Financial Services Program opened the 113th Congress today by proposing an end to the federally subsidized flood insurance and a privatization of the program that was most recently soaked by losses from Hurricane Sandy.

WASHINGTON – Long-term mortgage rates started the New Year in the same holding pattern they have had for months, remaining near all-time lows, according to Freddie Mac.

WASHINGTON – Purchases of mortgage loans by Fannie Mae jumped 25% in the month of November to the highest level since the refinancing boom of 2009, when the Federal Reserve first started purchasing agency MBS.