Lending

WASHINGTON – Long-term mortgage rates were unchanged this week at record lows, according to Freddie Mac.

SCHAUMBERG, Ill. – Motorola Employees CU has signed with CRIF Lending Solutions to implement the company’s CRIF ACTion origination system.

ALBANY, N.Y. – The American Bankers Association weighed in on credit unions’ efforts for an exemption from state mortgage taxes, telling the state’s highest court the bid represents an effort by credit unions to tilt the competitive balance in New York by allowing them to offer mortgage “tax-free loans".

PHILADELPHIA – A local woman was charged with a sophisticated auto loan fraud that allowed her to obtain $536,000 from five area credit unions and one bank: Police and Fire FCU, Philadelphia FCU, American Heritage FCU, Freedom FCU, Navy FCU and Susquehanna Bank, authorities announced this morning.

CHICAGO – Alliant CU announced this morning it signed with LenderLive Network Inc. to provide it with retail mortgage loan fulfillment, including processing, underwriting and closing.

WASHINGTON – Mortgage rates declined again near record lows this week amid worsening economic indicators, after rising slightly last week, according to Freddie Mac.

WASHINGTON – The regulator for Fannie Mae and Freddie Mac yesterday said it will give the two mortgage giants the ability to allow military members who are ordered to switch bases – known as Permanent Change of Station orders – and who are still current on their mortgages to sell their homes through a short sale.

WASHINGTON – A top credit union business lender urged Congress this morning to extend two fledgling Small Business Administration programs that have provided billions of dollars in capital to community borrowers and are scheduled to expire in September.

UPPER MARLBORO, Md. -- NASA FCU is offering its members private student loans through Credit Union Student Choice.

TUKWILA, Wash. – Prime Alliance Solutions, the mortgage CUSO created by BECU which provides services to 1,900 credit unions, has been acquired by Mortgage Cadence, LLC, a Denver provider of enterprise lending solutions, document services and compliance solutions.

At first glance, FlexWage Solutions is selling something that looks a lot like a payday loan.

An analysis released last week suggests an NCUA proposal may stymie the increasing popularity of loan participations among credit unions and may even increase risk.

A new underwriting system that gives a greater understanding of members' financial situations helped drive 14% loan growth during 2011 at West Community CU.

NORTH CHARLESTON, S.C. – Heritage Trust FCU has committed $100,000 to the Lowcountry Housing Trust to help provide affordable housing funds.

PHOENIX – Arizona FCU has signed with CU Members Mortgage to provide it with online loan origination services.

BELLEVUE, Wash. – Puget Sound Cooperative CU is partnering with Snohomish County on a new Energy Smart loan program that will provide low-interest loans for energy improvements for Snohomish County homeowners.

WASHINGTON -- Average rates on fixed mortgages rose this week, the first increase in seven weeks, even as the rates remain near historic lows, according to Freddie Mac.

RIVERDALE, Utah – Borrowers can win a new Jeep Wrangler, Disney Resort trips or a new iPad as part of America First CU’s “Endless Summer of Giveaways” sweepstakes aimed at boosting lending at the $5 billion credit union this summer.

Allied Solutions has introduced an interactive marketing program that's boosting CU auto loan portfolios and cross sales, and providing measurable results.