Lending

An online loan-decisioning and funding app for credit unions is the winning idea in this year’s KnockOut innovation competition from PSCU, a 24-hour “hackathon” that aims to find new technology solutions for credit unions.

With implementation of a new IRS rule just weeks away, a group of seven financial trade groups, including Credit Union National Association (CUNA) and National Association of Federal Credit Unions (NAFCU), wrote a joint letter to the head of the IRS saying the rule could harm their members' mortgage lending activities.

The Wall Street investment banking titan has entered the consumer lending market with the launch its long-awaited online lending platform, known as "Marcus by Goldman Sachs."

Strong home sales are boosting originations of Federal Housing Administration loans and opening the door for first-time buyers — developments that could portend the mortgage insurance agency receiving a positive report from auditors this fall.

While some credit unions have embraced some of the changes and are already reevaluating their underwriting policies in light of it, few — if any — are testing the full limits of the new regulations.

Federal Reserve officials elected once again to postpone raising rates, but credit union advocates believe that the language contained in the Fed's statement strongly suggests a rate hike is coming very soon.

Ten institutions are rising above national grievances to help startups – many minority owned – get up and running in a struggling mill town.

A top CFPB official said Monday that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.