Lending

CHESTERFIELD, Mo. – First Community CU has become one of the first credit unions to implement AimbridgeSelect, a new fully-customizable version of its hosted lending automation platform.

WASHINGTON – Mortgage rates moved slightly higher this week, after declining to record lows for the past 11 weeks, according to Freddie Mac.

BROOKFIELD, Wis. – Fiserv said yesterday it is changing the name of its Loan Servicing Platform to LoanServ.

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.

In what may signal a trend toward elevating the importance of rental payments in credit scoring, Experian has acquired RentBureau, a credit bureau for the multifamily housing industry.

The Nevada Affordable Housing Assistance Corporation is preparing to work with credit unions on a new government-funded program designed to reach thousands of homeowners who are unable to pay their mortgages due to continuing high unemployment.

WASHINGTON – Mortgage rates fell for the 11th week in a row, to 40-year lows, according to Freddie Mac.

RANCHO CUCAMONGA, Calif. – CO-OP Financial Services said yesterday its CO-OP Member Center has signed with CU Direct Lending to offer CUDL’s new Lending 360 Loan Origination System (LOS) underwriting solution for its lending services, in a partnership to streamline loan origination work flow.

WASHINGTON – Mortgage rates fell in the latest week to the lowest on record and posted their ninth drop in the last 10 weeks, according to Freddie Mac.

WASHINGTON – The corporate bailout charge, pending NCUSIF assessment, credit card, overdraft and interchange fee reforms…as if credit unions didn’t have enough to worry about, rates on mortgages have been plummeting in recent months – just as mortgage lending has become more important.

BEAVERTON, Ore. – First Tech CU said yesterday it is offering members a .25% annual percentage rate reduction when financing a green car, as part of a partnership with the Environmental Protection Agency’s SmartWay program.

SALT LAKE CITY – A credit union-owned payday loan operation that raised the ire of consumer activists in recent months apparently has stopped making the high-interest loans, amid questions on the annual percentage rate charged borrowers.

FALL RIVER, Mass. – St. Anne’s CU was recognized as the leading lender for MassHousing, the state’s affordable housing agency.

FLINT, Mich. – Dort FCU said it has introduced private student loans through Sallie Mae.

PHOENIX-With Congress in recess, credit unions are expected to lobby hard in members' home districts for relief from the member business loan cap following new data showing jobs-creating MBLs were the strongest loan category during the first half of the year.

MANCHESTER, N.H.-St. Mary's Bank has introduced two loan products whose primary goal isn't making money for the CU. Instead, the loans help members build and rebuild credit, and the CU establish long-term relationships.

PORTSMOUTH, N.H. – Service CU launched a line of business banking products to help local businesses with practical credit and deposit solutions.