Lending

RICHMOND, Ind. – Perfect Circle CU is piloting a different method of disposing of the homes it obtains in foreclosure, by fixing them up, furnishing them and making them available in a rent-to-own sale.

WASHINGTON – Long-term mortgage rates declined again this week to near their lowest levels in recorded history, according to Freddie Mac.

NEW YORK – Some analysts are forecasting that the mortgage market will change dramatically in 2012 as the largest banks cede portions of the loan origination market to smaller lenders.

SACRAMENTO, Calif.-Foreclosure legislation continues to be the hot topic here in the Golden State's capital.

MADISON, Wis.-A popular project from the Filene Research Center's i3 Innovation Hub is working its way through the process of being built out for piloting by credit unions.

GLENDALE, Calif.-Los Angeles said a partnership it built with the City of Los Angeles will continue into 2012.

COLORADO SPRINGS, Colo.-The staple of credit union lending, the used car loan, could be riskier this year.

ONTARIO, Calif.-Credit Union Direct Lending (CUDL) is predicting a stronger new car sales market in 2012, but says credit unions will have to fight even harder for their loan share.

FITCHBURG, Mass.–Workers’ Credit Union has been named the number-one, new business lender of the year in this state by the U.S. Small Business Administration.

WASHINGTON–The National Association of Realtors is reporting that an indicator of future home sales jumped 7.3% in November, its highest level in 19 months. That increase follows a 10.5% increase in the pending sales index for October.

WASHINGTON–The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to implement a congressionally mandated increase in their loan guarantee fees on April 1.

WEST PALM BEACH, Fla.–In outlining their objectives for 2012, credit unions said their focus will be on credit cards and operational efficiency. The comments are offered as part of a series on CUJournal.com highlighting plans for the New Year.

CHICAGO – Although mortgage rates are at their lowest point in 40 years, a new analysis has found that nearly four-in-10 homes sold during 2011 have been purchased for cash.

WASHINGTON—The deal Congress hammered out to extend a payroll tax for two more months will mean increased costs to borrowers for government-backed mortgages.

WASHINGTON—There were mixed signals last week on the strength of the economy and housing in particular. Freddie Mac reported it purchased $38.1 billion of mortgages in November, a 12% gain from the month prior, and its best acquisition month since February. Roughly 71% of its purchases were refinancings.

NEW YORK—One segment of the housing market appears to be quite robust, according to one new analysis.

WASHINGTON—Mortgage rates continue to fall even lower. Freddie Mac reported its recent weekly survey shows the average 30-year fixed-rate mortgage fell to 3.91%, the lowest point in four decades and the sixth time a new low has been reached during 2011.

SOUTH BEND, Ind. – Notre Dame FCU, one of the biggest credit union student lenders, announced this afternoon it is now offering private student loan consolidations.