Lending

CHESAPEAKE, Va. – ABNB FCU here is reporting its members have saved $1.9 million as the result of lowered borrowing costs and reduced fees since the launch of a special promotion earlier this year.

JACKSONVILLE, Fla. – The number of mortgages 30 days or more delinquent, but not in foreclosure, increased 2.4% in June, but the actual delinquency rate has declined over the past one year by 10.4%.

CHARLOTTE, N.C. – Bank of America Corp. may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, said two people with direct knowledge of the talks.

PEOSTA, Iowa – University of Iowa Community Credit Union CEO Jeff Disterhoft was among a group of Iowans who met with President Obama here as part of an economic development forum.

WASHINGTON – A new study suggests credit unions may not see as many loan applications from consumers previously turned away by banks.

WASHINGTON – Not driven as much by rate as by opportunity, one group of people is getting aggressive in mortgages: scam artists.

WASHINGTON – Consumers are increasingly looking to finance homes at terms shorter than the traditional 30-year mortgage.

NEW YORK – Mortgage rates continue to slide toward near-record lows.

ONTARIO, Calif.-Auto lending fraud typically takes the form of borrowers misrepresenting application information, such as income. But during a recession-and even during a sluggish recovery-CUs need to watch out for the dealer as well.

SANTA ANA, Calif.-As large financial institutions have invested millions in defending themselves against certain types of lending fraud-especially FHA fraud, falsified lien releases and multi-closing-criminals are moving on down the road in targeting smaller credit unions.

LAKE SUCCESS, N.Y.-Looking to beat fraud in indirect lending? Get nosey, recommends one pair of observers.

DEERFIELD BEACH, Fla.-With credit unions struggling to boost loan volumes, one of the few bright spots for many has been auto lending. But car loans bring with them a potential increase in vehicle-related fraud, reminds one person.

WASHINGTON — A bipartisan group of lawmakers, aided by banking and housing groups, are beginning a strong lobbying push to forestall a scheduled drop in the maximum sizes of mortgages backed by the government-sponsored enterprises.

JACKSONVILLE, Fla. – 121 Financial Credit Union here has introduced a short-term “Back to School” loan program.

PITTSBURGH – The president of one major mortgage lender believes the downgrade by S&P of U.S. debt will actually be a boost to mortgage refinancings.

ARLINGTON, Va. – Despite an increase in new vehicle sales during July, CUs are being urged to not get their hopes too high that this is a sign auto lending will rebound early next year.

WASHINGTON – A bipartisan group of lawmakers, aided by banking and housing groups, are beginning a strong lobbying push to forestall a scheduled drop in the maximum sizes of mortgages backed by the government-sponsored enterprises.

OMAHA, Neb.-If Centris FCU can't drive on one tank of gas to the small business that's requesting CU financing, it simply won't make the loan.

OMAHA, Neb.-If a business lending program is going to be successful, it has to involve tellers and MSRs.

WASHINGTON – Fannie Mae this morning reported deteriorating mortgage markets pushed its second quarter losses to $2.9 billion, which will necessitate another $5.1 billion in government assistance.