Lending

WASHINGTON – Mortgage rates retreated this week along with long-term bond yields amid weaker-than-expected jobs gains and an increase in the unemployment rate.

TUMWATER, Wash. – O Bee CU is offering a 10-year, fixed mortgage for as low as 3.99% that has no fees, no closing costs, no loan costs and no appraisal costs. O Bee pays all fees for anyone approved for this loan.

NEW BRIGHTON, Minn. – CU Companies, a mortgage CUSO owned by area credit unions, is now offering a correspondent lending program for credit unions.

PHOENIX – Arizona State CU said yesterday it is offering its members low-down payment, low-rate loans to buy homes currently owned by Fannie Mae.

HARRISONBURG, Va. – Park View FCU said it is offering what it believes is the nation’s first CD backed by solar energy loans.

DALLAS-A federal court has dismissed a bankruptcy court appeal from the developer of The Harbor at Rockwall, clearing ailing Texans CU to sell the mixed-use development it financed with a $28-million member business loan, which has grown to a $31 million debt after interest.

MADISON, Wis. — Lending grew at the nation's credit unions by a slight 0.4% in May, the second straight positive month for credit unionloan growth, after declining lending for the previous seven consecutive months, according to CUNA.

WASHINGTON – Home loan rates rose across the board this week, according to Freddie Mac.

WASHINGTON – Consumer advocates and bankers both called on Congress this morning to set national guidelines on mortgage servicing to help resolve millions of pending home foreclosures.

WASHINGTON – Federal housing regulators on Wednesday said they are lowering the conforming loan limit for jumbo loans – the maximum loan they will buy from lenders – by almost 17%.

BRIDGEWATER, N.J. – Financial Resources FCU announced the closing of a $2.6 million loan to help finance a photovoltaic solar panel system on the roof of the Fram Trak manufacturing plant in Middlesex, New Jersey.

MADISON, Wis. – Lending grew at the nation’s credit unions by a slight 0.4% in May, the second straight positive month for credit union loan growth, after lending declined for the previous seven consecutive months, according to CUNA.

SAN ANTONIO-Higher than normal turnover in the small business banking space offers a window of opportunity for credit unions to step up and serve a growing market.

HELENA, Mont.-After an aggressive public awareness campaign in the latter half of 2010, a dozen CUs across Montana reported a 24% increase in small loans made during Q3 and a subsequent 26% increase in Q4.

BIRMINGHAM, Ala.-Alabama Telco CU here has seen significant increases in product sales and membership applications following the launch of a "Rate Your Rates Challenge."

MASSENA, N.Y.-SeaComm FCU is taking members back to the '60s-when people drove VW vans and spent 31 cents a gallon on gas.

WASHINGTON-The financial picture is improving a bit for some of the biggest credit card issuers.

ATLANTA-Credit unions still unsure whether or not to invest in social networking may find some direction in a new study. According to SYNERGISTICS Research, cardholders are beginning to connect with credit card issuers via social networks.

WASHINGTON-Credit unions considering private student lending should first determine if they have the staff, expertise, and risk tolerance to make the move-or work with a partner.

DETROIT-For members of Detroit Metropolitan CU, there's nothing like Easy Money.