Lending

WILMINGTON, Del. – DEXSTA FCU said it has introduced private student loans for college, graduate school and private K-12 through Cology Inc. and Education Loan Source.

WASHINGTON – Long-term mortgage continued to decline this week towards their lowest in five decades, according to Freddie Mac.

SACRAMENTO, Calif. – The Golden 1 CU and other area credit unions are reaching out, as they do every year around this time, to state employees who may see their pay reduced or held up as a result of the state’s budget stalemate.

ALEXANDRIA, Va. – Credit unions are favoring NCUA’s proposal to deregulate payday lending but say the agency should drop proposed requirements that could make it tougher to qualify for the short-term, small amount loans.

AUBURN HILLS, Mich.-Getting a degree is now a little easier on the wallet of Genisys CU members and employees, thanks to a new partnership with Cleary University.

EUGENE, Ore.-An aggressive, proactive approach being taken by the $919-million Oregon Community CU here has led to a strong increase in lending.

BROOKFIELD, Wis.-A new analysis of 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.

NEWPORT NEWS, Va.-A sense of humor, a fun game and a balance transfer offer are helping drive new members to Langley Federal Credit Union.

LAS VEGAS-Record low mortgage rates have done nothing to stop a renewed housing slide, as new home sales fell to record lows in May and both refinance and purchase volumes fell throughout June.

SILVER SPRING, Md.-Spring and summer tend to be the big home-buying seasons, but if one recent poll is any indication, mortgage lenders may not have a whole lot to look forward to this home buying season.

BOSTON-A new study is critical of some credit union and bank "alternatives" to payday loans, saying such programs also "plunge consumers into a costly and nearly inescapable debt cycle."

ATLANTA-According to a recent survey by Synergistics Research entitled, "The New Consumer Credit Market-Challenges and Opportunities," there is some room for improvement in how lenders respond to customers having payment difficulties.

SALT LAKE CITY-A local consumer advocacy group camped out on the steps of America First CU last week and assailed it and seven other Utah credit unions as predatory lenders for payday alternatives they offer their members.

WASHINGTON – Mortgage rates sank to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes.

PORTSMOUTH, N.H. – Service CU has signed with Member Business Solutions, LLC, to provide it with member business loan including loan documentation, underwriting and servicing, as well as participation brokerage.

MANHATTAN BEACH, Calif. – Kinecta FCU announced yesterday it has contracted with First Marblehead to provide it with a variety of services for its private student loan program.

NEW YORK – Fynanz, a provider of private student loans through credit unions, said it raised $6.5 million in new venture financing, bringing its start-up funds to almost $8 million.

WASHINGTON – Mortgage rates fell this week to the lowest level on record, giving home sales and refinancings a big boost, according to Freddie Mac.

WASHINGTON – Fannie Mae announced a new policy yesterday aimed at encouraging troubled homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for seven years.

AUSTIN, Texas – The Texas CU Commission last Friday agreed to cap application fees for short-term payday loans at $20, except for those credit unions who may choose to challenge the safe harbor provision of the state’s usury laws by proving a higher fee is reasonable to allow it to recoup costs for the program.