Lending

ATLANTA – Equifax said it has teamed with KXEN so that its Equifax Capital Markets division can better mine data to predict mortgage loan defaults.

DURHAM, N.C. – Latino Community CU is introducing microlending to small businesses in its area.

SCHENECTADY, N.Y. – Sunmark FCU introduced a new product it said will allow borrowers throughout the capital region to use their home equity to secure a 3.99% loan.

ALBANY, N.Y. – SEFCU, formerly State Employees FCU, announced yesterday it has purchased Home Funding Finders, a mortgage banking company in nearby Latham.

WOODBRIDGE, Va.-Offering members cash back on the spot is driving strong lending growth at one credit union.

WASHINGTON-Despite member business lending gains, a stagnant loan portfolio that's shifting in composition is driving down loan income and CU overall revenue through the first half of the year, according to an early look at data.

SAN FRANCISCO-Three credit unions in this city and another on the East Coast have partnered in a program to make loans for taxi medallions.

WASHINGTON – Fixed-rate mortgages continued their decline to record lows this week, Freddie Mac reported Thursday.

HARRISBURG, Penn. – Pennsylvania State Employees CU went live on S1’s new mortgage software.

VIENNA, Va. – Record-low mortgage rates failed to boost lending at Navy FCU during the second quarter, as single-family loans funded dropped by 56% from the previous year’s period, to $944 million.

LATHRUP VILLAGE, Mich. – Michigan First CU is hosting its annual summer "Loan Zone" car sale Aug. 13-14.

RIVERWOODS, Ill. – Discover Financial Services said its Discover Student Loans unit is celebrating its third anniversary by reducing its lowest interest rate to 3.75%.

SAN FRANCISCO – Four credit unions have partnered in a program to make loans for taxi medallions, days after San Francisco launched an enabling program.

FLINT, Mich. – Dort FCU is the first in the state to help a mortgage borrower receive thousands of dollars in assistance through Michigan’s Helping Hardest-Hit Homeowners program – just two days after the U.S. Treasury-funded program opened July 12.

PHOENIX – Arizona Central CU has introduced a disaster loan special for victims affected by the area’s recent wildfires and flooding in the Flagstaff area.

DURHAM, N.C. – The Center for Community Self-Help, parent of two community development credit unions, said yesterday its Self-Help Ventures Fund has been accepted as a member of the Federal Home Loan Bank of Atlanta, the Bank’s first CDFI-affiliated organization allowed under the 2008 Housing and Economic Recovery Act.

WASHINGTON – Home loan rates continued to decline to five-decade lows this week amid concerns about the state of the economy, according to Freddie Mac.

ALEXANDRIA, Va. – Pentagon FCU announced yesterday that members of AAA Mid-Atlantic are now eligible to obtain mortgage and fixed equity loans through the $15 billion credit union.

PEARL RIVER, N.Y. – Palisades FCU announced the return of the popular "Skip-A-Pay" program, debuted in 2008, that will allow members to skip their summer loan payments.

MOUNT LAUREL, N.J. – PHH Corp., operator of the biggest mortgage bank for credit unions, reported yesterday its second quarter losses increased to $133 million, as mortgage rates fell to their lowest in five decades.