Lending

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.

PHOENIX – Arizona State CU said it has saved its members more than $2 million in annual costs, with the average member saving $369 on monthly mortgage payments, through the government’s Home Affordable Refinance Program, or HARP 2.0.

WASHINGTON -- Average mortgage rates in the U.S. rose over the past week, though fixed rates remained near historic lows, according to Freddie Mac.

NEWBURGH, N.Y. -- A former Clarion Hotel filed for Chapter 11 bankruptcy last week, a few days before a scheduled foreclosure sale of the property by Hudson Valley FCU.

ONTARIO, Calif. – CU Direct Corp., the leader in indirect auto loans for credit unions, announced this morning it has expanded its retail loan operations with the acquisition of Lifestyle Lending Insights, a Salt Lake City provider of so-called lifestyle loans—for medical or retail purposes—through credit unions.

Are two credit unions ahead of the curve when it comes to lending money for compressed natural gas (CNG) fueled vehicles?

ALBUQUERQUE, N.M. – One of seven Nigerians who allegedly drained $4 million of fraudulent home equity lines of credit from a half dozen credit unions was arraigned here last week following his arrest in Georgia.

WASHINGTON – Mortgage rates fell still lower this week, to all-time lows, according to Freddie Mac.

BOSTON – First Marblehead Corp., provider of a private label student loan platform, announced this morning it has agreed to acquire certain assets and liabilities of Cology Inc., a provider of student loan processing and servicing for more than 250 lenders, most of them credit unions.

GROTON, Conn. – Charter Oak FCU said it is providing a $1.5 million member business loan package to renovate and expand the Interdistrict School for Arts and Communication, a local charter school.