Lending

WASHINGTON – Mortgage rates rose for the first time in three weeks, with the average for the 30-year, fixed-rate loan rising back above 5%, according to Freddie Mac.

BURBANK, Calif. – Lockheed FCU disclosed yesterday it signed with MDA DataQuick to install the company’s Collateral Validation to help the credit union proactively identify and manage loan risk and set loan loss reserves.

SAN JOSE, Calif.-The San Francisco Bay Area's housing market does not always fit neatly into the secondary market's loan caps, but that fact is not stopping Technology CU from offering mortgages up to $1 million.

RALEIGH, N.C. – State Employees’ CU said its SECU Foundation is providing a 0% $500,000 loan to fund construction of a new With Friends Residential Maternity Home to benefit pregnant teens or parenting girls with babies who are homeless or displaced in Gastonia, N.C.

RESTON, Va. – Sallie Mae, the largest provider of guaranteed student loans, said it endorses the Obama administration’s proposal to eliminate all guaranteed student loans and the elimination of lender subsidies.

WASHINGTON – Rates for 30-year home loans edged lower for the second straight week, but remained above last year's record lows, according to Freddie Mac.

ELGIN, Ill.-Lending Solutions, Inc. is reporting it has developed a new credit-decision model that more accurately projects a potential borrower's financial condition almost a year down the road.

ENDICOTT, N.Y.-Thanks to extremely strong performances in mortgage and commercial lending, Visions FCU here posted a net income of $37 million and 1.5% ROA for 2009, despite a $3-million charge for the corporate assessment.

WASHINGTON – Average rates on 30-year fixed mortgages fell slightly this week, dipping below 5% again, according to Freddie Mac.

ELGIN, Ill. – Lending Solutions said it has developed a new credit-decision model that more accurately projects a potential borrower’s financial condition almost a year down the road.

DETROIT – Michigan Gov. Jennifer Granholm has formally unveiled a plan to partner with the Michigan Credit Union League to provide $43 million for loans to potential entrepreneurs – in addition to plans to also allocate another $200,000 to teach, start or expand small businesses in the state.

NEW YORK – Freddie Mac on Wednesday said it planned to buy substantially all loans that are delinquent 120 days or more from its fixed and adjustable-rate mortgage-backed participation certificate securities.

OAKLAND, Calif. – Golden Gateway Financial, a financial resource for seniors and retirees, said it has been selected by three credit unions to provide its reverse mortgage solution to their members.

WASHINGTON – Mortgage rates moved slightly higher this week, but remained near decades lows, according to Freddie Mac.

LANSING, Mich. – The state’s leadership announced a partnership to channel as much as $43 million of credit union loans to Michigan’s small businesses.