Lending

MIAMI – CUNA Mutual Group announced winners of its annual Excellence in Lending Awards during this week’s 2012 CUNA Lending Council Conference.

MIAMI – A federal appeals court yesterday denied a request by Power Financial CU to order NCUA to uphold a $15 million real estate loan deal the federal regulator had agreed to, then rescinded because the borrowers did not fit within the credit union’s field of membership.

WASHINGTON – Troubled secondary mortgage market giant Freddie Mac reported net income of $2.9 billion this morning for its second quarter, its second straight quarterly profit and the latest sign of a rebounding mortgage market.

VIENNA, Va. – Navy Federal Credit Union originated $2.63 billion of home mortgages in the third quarter, more than doubling its production of a year ago.

NEW YORK – Credit unions around the county were reaching out over the weekend to needy members and employees, donating emergency aid for Hurricane Sandy relief and doing what they do best--offering special loans to begin the rebuilding after last week’s devastating storm.

WASHINGTON -- Mortgage rates continued to dip near record lows again this week, according to Freddie Mac.

RAEFORD, N.C. – State Employees’ CU’s SECU Foundation has agreed to provide 0% financing for another low-rent teachers’ project here, a $2.4 million 24-unit project for teachers in Hoke County.

DENVER -- The state of Colorado will receive $1.8 million as part of a settlement with Lender Processing Services for past mortgage document execution practices by LPS subsidiaries, DocX and LPS Default Solutions, including “surrogate signings” of documents.

Credit Union Journal asked attendees of the recent annual conference of the American Credit Union Mortgage Association how they are generating mortgages while also balancing risk.

CHESTERFIELD, Va. -- Chesterfield FCU will once again offer its Holiday Help Loan payday as an alternative to expensive payday loans for the 2012 holiday season.

TAMPA, Fla. – GTE Financial, formerly GTE FCU, which has financed more than $213 million in HARP refis, has formed a new CUSO to originate, process, close and provide titles for members of GTE Financial and other credit unions.

WASHINGTON -- Fannie Mae and Freddie Mac are expected to require less taxpayer aid and may be able to stop tapping government coffers as early as next year, their regulator, the Federal Housing Finance Agency, said Friday.

WASHINGTON—Mortgage rates moved slightly higher this week from last week’s record lows, according to Freddie Mac.

MANATEE, Fla. – Manatee Community FCU and CareerEdge of Florida Inc. have teamed with Enterprise Car Sales to offer an affordable car purchase program for low-income workers in Manatee County.

DEWITT, N.Y. – Countryside FCU has been approved by the U.S. Small Business Administration as a qualified lender for the SBA’s 7(a) loan guaranty program.

LOS ANGELES – Farmers Insurance Group FCU has begun using Portfolio 360 Inc.’s Mosaic Loan Intelligence Platform that enables credit unions to manage loan portfolio data from a single centralized system.

CHARLOTTESVILLE, Va. – Home equity loan outstandings continue to fall, and now have posted declines in every quarter since the end of 2008, according to analysis by SNL Financial.

MADISON, Wis. – How do consumers and members conceptualize borrowing and debt? How do credit unions respond to basic borrowing needs? Those questions are at the core of a new research paper from the Filene Research Institute that is based on research conducted at 11 credit unions nationally.

A survey conducted by Texas Trust CU has found that just one in eight homeowners in its North Texas markets is interested in selling their house and buying another right now.