Lending

WEST JORDAN, Utah – Mountain America CU has implemented ProPay’s LenderPay software, which allows members to make secure house payments, car payments and fund accounts using any Visa, MasterCard, Discover or American Express card.

TAMPA, Fla. – GTE FCU said yesterday it signed with CU Direct to integrate its back-office processing and loan origination with CUDL’s national auto lending platform.

LAS VEGAS-While not on the radar of many credit unions, the SAFE Act, which goes into effect on Oct. 1, could have a major impact on mortgage lending CUSOs.

ATLANTA – Georgia’s Own CU signed with CU Student Choice to offer private student loans through the CUSO.

WASHINGTON – Rates on 30-year mortgages climbed for the second straight week, but remain near the lowest levels in decades, according to Freddie Mac.

LAS VEGAS – Credit unions have been told for months now an opportunity exists in the mortgage lending space – on Thursday they were told how to build relationships with Realtors to make that prospect a reality.

ALEXANDRIA, Va. – NCUA yesterday agreed to lift the interest rate cap on short-term payday loans to 28% – 1,000 basis points more than the limit on all other credit union loans – in an effort to encourage participation in this growing service among credit unions.

TREVOSE, Penn. – TruMark Financial CU has contracted with CU Student Choice to offer private student loans through the CUSO.

AUBURN HILLS, Mich. – Genisys CU said it has contracted with CU Student Choice to offer private student loans through the CUSO.

BROOKFIELD, Wis.-A new analysis of the 375 U.S. markets in the Fiserv Case-Shiller Index found that during the fourth quarter of 2009, U.S. home prices were up in 155 out of 384 metro areas, including markets in California, Ohio, Michigan and Washington.

SOUTHFIELD, Mich.-A new government program, coupled with the cooperation of private lenders that include scores of credit unions, is taking aim at filling the gap left by the Home Affordable Modification Program to help keep consumers in their homes.

WASHINGTON-Credit union lending has all but dried up, even with interest rates plunging to new lows, leaving new challenges for credit unions to attract borrowers.

PHOENIX, Ariz.-As the housing market continues to struggle, credit unions remain focused on avoiding defaults through various loan modification efforts.

PORTLAND, Ore.-OnPoint Community is crediting several new TV spots for boosting awareness it is also a mortgage lender.

ATLANTA-Credit unions seeking a larger foothold in mortgage lending have by necessity also had to turn to third-parties to play a larger role.

SCHENECTADY, N.Y.-Flush with cash, Sunmark FCU here recently introduced a new product it hopes will provide steady returns while allowing borrowers throughout the capital region to use home equity to secure a 3.99% loan.

MEQUON, Wis.-Get ready for a surge of online competition in mortgage lending. A survey of 330 financial institutions conducted earlier this year showed that while only 18% of all FIs are using "smart" online mortgage application technology and 39% do not even provide PDF or HTML application forms, 71% of the institutions surveyed expect to provide advanced real estate lending platforms in the future. Banks and credit unions expect mortgage volume through their online channels to grow by a combined 157% in just three years.

PORTLAND, Ore.-Here are some of the scenarios OnPoint Community CU has presented in earlier TV spots.