Lending

McLEAN, Va. – Mortgage rates moved slightly higher this week, as Treasury yields also rose, according to Freddie Mac.

PEARL RIVER, N.Y. – Palisades FCU is reaching out to members by bringing back a popular program offered last summer that allows borrowers to skip their July and August loan payments.

DENVER – CRIF, an Italian credit reporting and business information firm, continued its foray into the credit union market with the acquisition of Aimbridge Indirect Lending LLC and its Member Lending Acceptance affiliate.

WASHINGTON – Freddie Mac reported a massive $4.2 billion gain on hedging as mortgage rates plunged to record lows almost dug it out of the red for the second quarter, even as dark clouds continue to hover over the secondary mortgage market giant.

OAKLAND, Calif. – The Treasury Department approved Oakland Municipal CU last week as an approved servicer in its Home Price Decline Protection component of the mortgage refinance Home Affordable Modification Program, or HAMP, the sixth credit union approved for the program.

WASHINGTON – Fannie Mae said yesterday it will ask for another $10.7 billion in government aid after posting a second quarter loss of $15.2 billion.

McLEAN, Va. – Mortgage rates dipped this week, after rising the previous three weeks.

ESTHERVILLE, Iowa – One Employees CU member’s dream of buying her own home became reality as Christy Mart became the first Iowa credit union Individual Development Account saver to use her funds to purchase a home.

WEST LAFAYETTE, Ind. – Purdue University Employees FCU is the fifth credit union to be approved as a servicer in the Home Price Decline Protection component of the Treasury Department’s mortgage refinance Home Affordable Modification Program, or HAMP.

SACRAMENTO, Calif. – The Golden 1 CU announced yesterday it is introducing Federal Housing Administration mortgages to its members.

BELLEVILLE, Ill. – Catholic and Community CU is partnering with the Society of St. Vincent de Paul to offer small, low-interest, short-terms loans to the needy who qualify.

NATIONAL HARBOR, Md. — As the economy continues to stutter, it's time for credit unions to dig into their secret weapon: all that payment data they have on their membership.

NATIONAL HARBOR, Md. — While consumers' credit scores may be falling, and the amount of risk associated with even the higher scores has increased, the way those scores work continues to perform well.

WASHINGTON — A bill introduced in Congress last week would expand the powers of credit union to make member business loans by raising the cap on MBLs to 25% of assets, and excluding any loans less than $250,000; all faith-based loans and certain loans made in underserved areas from the cap.

ESCANABA, Mich. — Delta County CU has teamed up with a local RV dealer to create an indirect lending program.

McLEAN, Va. – Long-term mortgage rates rose this week, for the second week in a row, according to Freddie Mac.

WASHINGTON – A bill introduced in Congress today would expand the powers of credit union to make member business loans by raising the cap on MBLs to 25% of assets, and excluding any loans less than $250,000; all faith-based loans and certain loans made in underserved areas from the cap.

WASHINGTON – A bill introduced in Congress today would expand the powers of credit union to make member business loans by raising the cap on MBLs, and excluding any loans less than $250,000; all faith-based loans and certain loans made in underserved areas from the cap.

BOSTON – Four credit unions have joined the Massachusetts Housing Authority’s first-time homebuyer program that will provide low- and moderate- income borrowers interest-free loans of up to $8,000 for downpayments and closing costs.