Lending

LAS VEGAS - The future of the credit union movement might be determined by the strengths of the networks CUs can establish, according to Tony Boutelle.

LAS VEGAS - An increasing number of credit unions are moving to risk-based pricing and, not surprisingly, are seeing greater insight into assessing risk.

COLORADO SPRINGS - Air Academy FCU is billing its new payday loan product as a smart solution to the short-term cash problems of its members, many of them Air Force cadets.

PEORIA, Ill. - CEFCU has rolled out its own payday loan product, a 31-day loan at 18%.

SAN JOSE, Calif. - CommonWealth CU said it has contracted with Lending Solutions Inc. to implement the company's 24/7 call center and Internet lending services.

FT. LAUDERDALE, Fla. - Not all credit unions have "forgotten" about the signature loan.

PHILADELPHIA - The signature loan, the long-time credit union mainstay that has faded to a niche offering for most, may make something of a comeback.

RALEIGH, N.C. - Homeowners across the country are at risk of losing their homes as adjustable rates are ticking up, which is why one credit union is trying to do something about it.

SAN DIEGO - The speculative rush that drove up housing prices in many parts of the country has created a hangover effect where the challenge now for credit unions isn't simply to help members finance a new home, but also to keep it once they're in it.

MEMPHIS, Tenn. - When predatory lending cases and foreclosure rates started soaring here, Memphis Area Teachers CU knew it had to take action, so it created a new position dedicated teaching consumers how to buy-and keep-their own homes.

EWING, N.J. - Prime Alliance Loan Servicing, powered by Cenlar, is offering Private Label Subservicing, a private label, branded loan servicing program for CUs. Services include a member call center, escrow administration, default administration, loss mitigation, and others.

MINNEAPOLIS - Wolters Kluwer Financial Services announced the company is expanding its comprehensive suite of consumer education materials for the mortgage industry to include interest-only and payment option adjustable rate mortgage (ARM) education materials.

PHILADEPHIA - The big question for many credit union lenders? If real estate values continue to cool-and consumer interest in home equity-secured loans cools with them-what steps should credit unions take to keep a healthy loan portfolio?

DUBLIN, Calif. - Ellie Mae is launching ePASS Network, the mortgage industry's most-used Internet-based transaction platform, paving the way for users to bypass the use of the industry's customary 500-page loan files.