Lending

Credit unions shouldn't pay too much attention to negative headlines regarding private student lending.

WASHINGTON – Average fixed mortgage rates fell to new lows over the past week, again, according to Freddie Mac.

PENSACOLA, Fla. – Navy FCU and Pen Air FCU announced this morning they are partnering to provide member business loan financing for a 152-room Holiday Inn resort development on nearby Oskaloosa Island, the two credit union giants’ third hotel project together.

PLANO, Texas – Credit union CEOs’ expectations for loan demand rose in the third quarter to their highest point in three years, according to Catalyst Corporate FCU’s most recent quarterly CEO Confidence Survey.

WASHINGTON – The community banking lobby is refusing to budge in its opposition to the credit union member business loan bill and says Congress should wait to see the impact of NCUA’s recent move to exempt an additional 700 credit unions from the MBL cap before considering the long-sought legislation.

DURHAM, N.C. – Self-Help FCU has teamed with a Chicago community development group to buy 1,100 mortgages mostly held by Hispanic borrowers from the FDIC that were made by the failed Second Federal Savings & Loan Association.

Credit unions’ efforts to focus more on B and C credit should be made with an even more watchful eye now, cautioned several lending executives attending the 2012 CUNA Lending Council Conference.

Some mortgage applicants continue to be surprised they need to prove they actually have a job and do not carry too much debt.

Awareness that they make mortgage loans has long been an issue for credit unions. Not so for the $5.7-billion San Diego County CU.

With low rates largely a commodity but with fees that are below market, the $2-billion Redwood CU has found another factor is helping drive mortgage volume: being locally owned.

As the San Francisco Bay Area housing market continues its recovery, $3.8-billion Patelco Credit Union expects to set a record for mortgages this year and top it in 2013.

This seaside city has long been the bell cow for California real estate market, which may be good news.

As credit unions from the California and Nevada leagues stage their annual meeting this week, there are finally signs that health is returning to the housing and mortgage markets.

The Golden 1 Credit Union is in the middle of one of the biggest refi booms in its history.

With the housing market staging a “minor recovery” in the Silver State’s capital city, one credit union lender here is finally seeing an equal number of purchase mortgages and refinances.

Don’t try telling Jennifer Denoo, chief operations officer for Great Basin Credit Union, it is difficult or impossible for consumers to get a mortgage due to tighter underwriting standards in a post-crisis market.

Although this market has a well-earned reputation as a depressed real estate market crushed by a glut of unsold housing, Wayne Tew, president and CEO of Clark County CU believes already strong mortgage volume would be even better if there were more homes to sell.

The housing market’s gradual recovery on a national level has picked up “measurable speed,” according to new analysis from Veros Real Estate Solutions.

As credit unions increasingly are turning to mortgages to boost their loan portfolios, three CEOs said real estate lending is a key factor in their success.

WASHINGTON – Mortgage rates remained flat in the latest week, holding near all-time lows, according to Freddie Mac.