Lending

WASHINGTON — Mortgage rates continue to hover just basis points above record lows, but the enticing APRs are doing little to boost home sales or refinancings.

BOSTON — Fearing that banks might get off too easy in the multi-state mortgage settlement talks, Massachusetts Attorney General Martha Coakley is preparing to file lawsuits against the nation's largest servicers for wrongfully foreclosing on customers.

WASHINGTON — Efforts to negotiate a settlement between state attorneys general and the top five mortgage servicers collapsed Friday after California pulled out the negotiations.

COLORADO SPRINGS, Colo.–A credit union must have a good relationship with the Student Aid Office of local universities if it is to make an impact in student lending.

HARTFORD, Conn. -- Nutmeg State FCU has added business banking, which will include member business loans, lines of credit, and commercial real estate loans.

WASHINGTON – A new bill introduced in the House would set up a financial institutions ombudsman who would referee regulatory disputes over credit union and bank exams and allow lenders to delay realizing losses on troubled mortgages.

WAUKEGAN, Ill. – Consumers CU is reaching out to prospective U.S. citizens, offering a workshop to assist citizen applicants and special loans to pay for the process, which can cost up to $1,000.

JACKSONVILLE, Fla. – 121 Financial CU is offering members a short-term 8% fixed-rate Holiday loan to help them finance holiday shopping, starting on Black Friday.

BELOIT, Wis.-Members began lining up at 4 a.m. outside a branch of First Community Credit Union here in order to take advantage of special pricing on loans.

LINCOLN, Neb.-The Nebraska Credit Union League has launched an alternative payday loan program together with six credit unions in Lincoln.

SAN DIGEO – North Island CU signed with CRIF Lending Solutions to implement the company’s CRIF ACTion origination system for consumer, business and merchant lending, and account opening.

MADISON, Wis. – Astronaut Janet Kavandi helped kick-off a pilot loan program with which five credit unions will provide financial incentives to subprime auto borrowers to encourage them to make timely payments and pay off their loans sooner.

WASHINGTON -- Rates on fixed-rate mortgages inched up slightly this week, with the 30-year fixed-rate mortgage averaging 4%, according to Freddie Mac.

PHOENIX, -- Arizona State CU will pay one lucky fan’s mortgage payment up to $1,000 at the Arizona Sundogs minor league hockey game this Saturday night as part of its season-long “Mortgage Match” contest.

WASHINGTON – The new Consumer Financial Protection Bureau said yesterday it is beginning to survey private student lenders, a rapidly growing industry since the termination of the federally guaranteed student loan program last year.

WASHINGTON – The regulatory relief bill being considered by Congress would once again insert lawmakers ongoing accounting rules, as it did in the 2009 emergency intervention over mark-to-market accounting for investments, by allowing community banks and credit unions to amortize the losses on the loans over five years.

HAUPPAUGE, N.Y. – cuatocoupon Inc., a company formed here to drive more business to credit unions and auto dealerships, is offering credit union members discounts when purchasing a new or pre-owned vehicle through a unique automotive coupon program.

NEW ORLEANS-If lending is to make any kind of comeback in the next year, credit unions will need to find a way to deal with the growing compliance burden, and do a better job of keeping the loans they already have.

NEW ORLEANS-One executive contends credit unions face a new lending environment that requires new skill sets and attitudes.

NEW ORLEANS-Luis Pastor believes the size of someone's paycheck is no indicator of their commitment to repay a loan.