Lending

BROOKFIELD, Wis. – Fiserv said it completed the sale of its Loan Fulfillment Services business to ISGN Solutions.

SAGINAW, Mich. – The Federal Home Loan Bank of Indianapolis has awarded 15 projects a total of $7.2 million in Affordable Housing Program funds, including a $750,000 grant to Wanigas CU of Saginaw, Mich.

WASHINGTON – The Treasury Department said it approved ten more servicers, include five credit unions, for its Home Affordable Modification Program.

WASHINGTON – Members of the House easily turned back a bid to add the so-called cramdown provision to the financial services reform bill this morning, after an avid lobby by credit unions and banks opposed to the measure.

WASHINGTON – Rates on most mortgages moved higher this week after five weeks of decline, following long-term bond yields that rose after an upbeat employment report.

WILLIAMSPORT, Penn. – West Branch FCU said it has joined the CU Student choice private student loan program.

CLOQUET, Minn. – Members Cooperative CU is the first Minnesota credit union to join a cooperative student lending network, cuStudentLoans.org, which provides lessons in financial literacy as it hands out student loans.

CHATSWORTH, Calif. – Telesis Community CU is asking a federal court in Florida to appoint a receiver for a troubled shopping mall development that has defaulted on an $11 million member business loan.

HARRISBURG, Penn. – Pennsylvania State Employees CU said its short-term payday loan program, offered to help state employees during the state’s summer-long budget impasse, topped $22 million.

WASHINGTON – Credit unions have been pretty-much shielded from the affects of this week’s House debate on combining as many as seven financial reform bills into one – but are wary of the return of the cramdown issue, which would open the mortgage foreclosure process to the bankruptcy courts.

FAIRBORN, Ohio-One of the largest credit unions in central Ohio is radically changing its presence in the mortgage market.

SAN DIEGO-Credit Union Journal asked attendees at the recent CUNA Lending Council if they continue to see greater loan demand as a result of banks pulling back on lending, and if so, are they having to turn down more loans than usual because of the quality of the paper?

WASHINGTON – Home loan rates fell for the fifth week in a row to their lowest in decades, pushed down by an aggressive government campaign to reduce borrowing costs.

DALLAS – Resource One CU has signed with TNB Card Services to process its PIN and signature debit card programs and to develop a new credit card program for its members.

LOUISVILLE, Ky. – Park Community FCU is reporting it closed more than $6 million in auto loans via a one-week promotion called “The Monster Rate Special.”

WASHINGTON – Credit Union Student Choice, a CUSO that provides turn-key private student lending services to more than 90 credit unions, has entered into a partnership with myCUmortgage, a wholly-owned CUSO of Wright-Patt Credit Union that provides mortgage services to credit unions throughout the Midwest.

EWING, N.J. — During the past two weeks more than 1,300 members of Credit Union of New Jersey have opted for a payday loan alternative available to state employees affected by mandatory job furloughs.

LIVONIA, Mich. — Just in time for holiday gift-giving, Invest in America has added discounts from FTD and CU Benefits.