Lending

SAN BERNARDINO, Calif.-The head of a business services CUSO here is forecasting some opportunities in the year ahead.

SAN BERNARDINO, Calif.-Scott Burger, president of Members Business Services, has this forecast for 2010.

COLORADO SPRINGS, Colo.-After withdrawing in many markets, a number of credit unions are expecting to see banks competing more aggressively for loans in 2010.

PEORIA, Ill.-Rates are unlikely to move much in the first half of the year, but will trend upwards in the latter half, according to Keith Reynolds, VP Lending/Business Services at Citizens Equity First CU in Peoria, Ill.

PHILADELPHIA-Claire Ippoliti, VP Lending at Philadelphia FCU, sees good opportunities in real estate lending.

MADISON, Wis.-To get members moving once they're pre-approved for a home loan, UW Credit Union is getting ready to send them house hunting on the credit union's website.

MEQUON, Wis.–Home equity-secured loans have plunged as a portion of overall consumer loans over the past year, although HELCs have rebounded slightly, according to new data. Mortgagebot reported that in November 2009, home equity loans made up approximately 5% of the overall loan market, down from 13.3% from one year earlier, but up slightly from the 3.2% of loan share HELCs held in April 2009.

DALLAS–CU Members Mortgage and Avista Solutions have entered into a partnership to offer what they said is an all-in-one mortgage origination software for CUs.

WETHERSFIELD, Conn.–Connecticut Labor Department FCU has begun offering “furlough loans” to members who are state employees.

WASHINGTON–Ten months after the Obama Administration announced a $75-billion program aimed at keeping up to four-million Americans from being foreclosed upon, lenders have processed more than one-million applications and entered into trial mortgage modifications with 759,000 borrowers. But new data show that just 31,000 of those have been made permanent.

ONTARIO, Calif.–As reported earlier by Credit Union Journal, CU Direct Lending (CUDL) has inked a deal with GE Capital Fleet in which the fleet management giant will help CUDL’s client credit unions remarket repossessed vehicles. The goal is to earn better returns on repossessed vehicles, CUDL said.

WASHINGTON–The Treasury Department's pledge of unlimited support for Fannie Mae and Freddie Mac may foreshadow changes to the Obama administration's Home Affordable Modification Program.

WASHINGTON–With the health care legislation now behind it, credit unions may get an opening for member business lending reform when the House of Representatives and Senate re-convene in mid-January.

LIVONIA, Mich.-There was a day, Dave Adams recalls, when struggling automakers General Motors and Chrysler knew little about what credit unions were, who they represented, and what they might offer.

LEHIGH ACRES, Fla.-Slowly but surely NCUA has been moving off its books hundreds of houses that it was forced to take title to here and in nearby Cape Coral.

ARLINGTON, Va.-As banks come under fire for a disappointing performance on loan modifications this year, credit unions appear to be doing a much better job.

LOMBARD, Ill.-As credit unions like SECU partner with members to develop strategies to avoid foreclosure, there is a segment of the population that simply does not want to work with the financial institution, warns Bill Handel, VP of research and development at Raddon Financial Group.

FAIRHAVEN, Mass. – Local and national veterans’ organizations have received more than $45,000 in donations from First Citizens' FCU’s Hero Program, which assists veterans’ aid organizations.

WASHINGTON – Home loan rates climbed for a second consecutive week, after nearing 30-year lows, but remained below 5%, according to Freddie Mac.

SAN FRANCISCO – Six local credit unions and the San Francisco Treasurer’s office kicked off a payday loan program yesterday to build on progress reaching the unbanked made by the two-year-old Bank on San Francisco.