Lending

Small-business owners heard "no" more often in July when seeking loans from big banks and credit unions alike, while small banks and institutional lenders were more generous, according to the Biz2Credit Small Business Lending Index.

Eight credit unions with branches in six states have partnered with myCUmortgage to provide mortgage products and services for their members.

WASHINGTON — President Obama has signed a housing reform bill that will open the door for welfare recipients to use federal rent vouchers to purchase manufactured homes and become homeowners.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

The Department of Housing and Urban Development appears to be trying to resolve a feud between the agency and its inspector general over whether Federal Housing Administration lenders are ignoring guidelines on down payment assistance programs.

With military service members becoming particularly vulnerable to predatory lenders in recent years, the National Credit Union Administration and the Federal Trade Commission will be providing information to empower service members, veterans and their families to be informed consumers in an upcoming #NCUAChat.