Lending

PINE BROOK, N.J. – CU National Mortgage, the credit union subsidiary of U.S. Mortgage Corp., announced last week it is closing.

FRESNO, Calif.-Credit unions across the country are trying to push the industry's old stand-by: auto loans.

McLEAN, Va. – Long-term mortgage rates fell this week, after rising the previous two weeks, according to Freddie Mac.

FRESNO, Calif. – Educational Employees CU said it will begin offering car loans with interest rates as low as 2.99%, several points below the national average, beginning tomorrow.

WASHINGTON A plan by Senate Republicans aimed at pushing mortgage rates lower went down to defeat last week.

LANSING, Mich.-Invest in America keeps rolling along, generating 25,000 car and truck sales for GM and Chrysler in January.

ATLANTA-CDC Federal Credit Union has begun participating in the "Buy and Build" mortgage program - and suggests that "every credit union should be doing this."

EULESS, Tex.-When it comes to managing expenses, credit unions need to answer one important question: "Are you overstaffed or grossly overstaffed?"

WASHINGTON-Fannie Mae was planning last week to introduce refinancing options designed to help homeowners who have been unable to take advantage of recent low rates, a person with knowledge of the program said.

McLEAN, Va. – Mortgage rates climbed to their highest since December this week, fueled by stronger than expected economic indicators, according to Freddie Mac.

KENNEWICK, Wash. – Numerica CU said it using new technology to originate mortgage loans that saves members money and is more environmentally friendly.

ROCKVILLE, Md. – MCT FCU has added fixed-rate mortgage loans and adjustable rate mortgage loans to its loan product suite, in partnership with CU Members Mortgage.

McLEAN, Va. – Mortgage rates remained stable this week, tipping down only slightly, according to Freddie Mac.

RANCHO CUCAMONGA, Calif.-Credit Union Direct Lending (CUDL) has joined Invest in America, providing point-of-sale financing capability and a marketing boost for the auto discount program that's generated 10,000 car sales for GM and Chrysler since early December.

COLORADO SPRINGS, Colo.-Sometimes the best news for credit union loan growth is, ironically enough, bad news.

TAMPA, Fla.-An aging U.S. population and seniors struggling to get by on fixed incomes are making reverse mortgages more attractive- and necessary-to members and their credit unions alike.

OKLAHOMA CITY, Okla.-The old-fashioned bread and butter of credit union lending has proven to be plenty contemporary for Tinker FCU here, which experienced a whopping 17% increase in lending during 2009.