Lending

DAYTON, Ohio – Heartland FCU said yesterday it signed with CampusDoor to offer private student loans through CU Student HELP Smart Option by Sallie Mae.

INDIANAPOLIS – A thriving market for loans backed by life insurance policies has proven problematic for FORUM CU, which has been stuck with defaulted loans it purchased by a now-defunct Michigan credit union, Capital Community CU.

WASHINGTON – As 2010 ended, Freddie Mac’s survey for the week ending Dec. 30 shows most rates were higher on a net basis during the volatile period, but the popular 30-year still is likely to end 2010 below the year’s highs.

SALT LAKE CITY – Maxamum Inc. here believes it has a novel answer to a long-standing lending paradox.

NORTHBROOK, Ill. – Allstate Insurance Co. has sued Bank of America to recoup losses suffered from its purchase of more than $700 million in Countrywide-issued mortgage-backed securities.

WASHINGTON – In a bittersweet achievement, the number of homeowners in the U.S. who have received counseling to avoid foreclosure has now surpassed 1 million.

WASHINGTON – The number of delinquent mortgages rose while foreclosures also jumped in the third quarter, according to a report released Wednesday by federal regulators.

DALLAS – Jim Brisendine, CEO of Resource One CU here, is missing his hair after the credit union met an ambitious loan goal.

ALEXANDRIA, Va. – NCUA is reminding that the initial period for federal registration of residential mortgage loan originators under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) is expected to begin on or around Jan. 31, 2011, and end on or around July 29, 2011.

SAN FRANCISCO – Wells Fargo & Co. has agreed to modify more than $2 billion of risky payment option ARMs from two lenders that the mega bank bought during the last years of the decade: World Savings of Oakland and Wachovia Corp. of Charlotte.

ONTARIO, Calif. – To help CUs better manage risk and cope with increasing regulatory complexity, Lending Insights said it has enhanced its Lending Performance Management System.

BURBANK, Calif.-Partners Federal Credit Union continued its aggressive, proactive search for more loans throughout 2010, and expects to extend its stance well into 2011.

WASHINGTON – Mortgage rates rose again this week for the fifth week in a row, reaching their highest level since May, according to Freddie Mac.

WOODBRDIGE, Va.-Belvior FCU is reporting its most recent loan promotion exceeded goal by 544%.

BISMARK, N.D.-A website has been launched and a CUSO is being formed to drive business lending in the Dakotas.

WASHINGTON – Mortgage rates went up this week, for the fourth week in a row, as Treasury yields continued to climb.