Lending

RACINE, Wis.-Educators said it will end a long fight with the state's auto dealers and sell a used car lot it operates.

SACRAMENTO, Calif.-Terry Halleck, president and CEO of The Golden 1 CU, Sacramento, Calif., said she does not believe credit unions have any special immunity when it comes to walkaways.

DALLAS-One way to avoid being burned by the "Walkaway Phenomenon" is to be proactive before it gets to the point of no return.

SACRAMENTO, Calif.-Credit unions largely report few members are "walking away" from their CU mortgages, but the numbers may be larger than most think, due to reluctance of members to admit that's exactly what they are doing.

Carson City, Nev.-Wally Murray, president and CEO of Greater Nevada CU said, "Our credit union has not experienced significant walkaway activity thus far."

LAS VEGAS-The key to dealing with 'walkaways' is preventing them in the first place, and that's why one CU is heading to the web to track down members in trouble.

LAS VEGAS-The plunging real estate market has created a new question for credit unions-how to deal with members who are "walkaways."

ALEXANDRIA, Va. – NCUA said in a new legal opinion that federal credit unions may add a fixed minimum, or "floor," rate to existing home equity loans as long as the original loan agreement included in writing the possibility of the minimum rate.

APPLE VALLEY, Calif. – Alaska USA Federal Credit Union on Thursday said it has introduced its mortgage lending services to the High Desert area of Southern California, east of Los Angeles.

WASHINGTON – Mortgages rates rose a little for the second straight week, which could portend higher rates down the road as the federal government is ending a key support for the market.

BOSTON – New England CU Services, a unit of the Massachusetts CU League, yesterday said it has signed with the New England College of Business and Finance, an online business college, to create college tuition savings opportunity for credit union employees and their family members.

ALEXANDRIA, Va. – Pentagon FCU yesterday said it is offering private student loans, a line of credit that will allow members to borrow for educational expenses at a competitive, low rate.

GAINESVILLE, Fla.-A new credit decision model from Lending Solutions, Inc. (LSI) is helping two CUs navigate the difficult underwriting environment.

BURBANK, Calif.-An aggressive stance to both new loans and loss mitigation has helped Partners FCU here continue to boost lending.

LOS ANGELES-At least a dozen credit unions specializing in student loans are licking their wounds as sponsoring universities are abandoning their key lending relationship for direct loans provided by the government.

ALEXANDRIA, Va. – Pentagon Federal Credit Union, the nation’s third-largest credit union, on Friday said it has signed with Sun West Mortgage Co. to offer reverse mortgages to its members.

WASHINGTON – Mortgage rates held below the 5% mark for the third straight week, even as the Federal Reserve prepares to end a program that has kept rates at or near record lows.

SAN ANTONIO-Credit union relationships with auto dealers are being tested by bank and captive finance companies' lowball offers, and CUs are adjusting their policies and practices to keep the dealer pipeline flowing.

BEAVERTON, Ore.-What really cements the credit union/auto dealer relationship, stressed Gayle Rust Gustafson, VP-financial services at the $500-million Rivermark Community CU in Beaverton, Ore., is having the right people working with the dealers.

HAUPPAUGE, N.Y.-How low can they go? That's a question credit unions are asking about auto loan rates, with the captive finance companies and banks driving down the numbers across the U.S.