Lending

Baileyville, Maine-based Consolidated Solutions LLC, an indirect lending CUSO that serves a number of Maine credit unions, recently celebrated a milestone when it reached $1 billion in loans.

With immigration one of the hottest topics in this year’s presidential campaign, two Seattle CUs join the ranks of those offering loans for future Americans — and once CEO says Donald Trump’s divisive rhetoric may even help spur business.

Briarwood, N.Y.-based Melrose Credit Union and other NYC-area medallion lending CUs are dealing with the effects of a disrupted taxi industry.

Five different products designed to meet the needs of underbanked minority households, including microfinance, payday loan payoffs, loans for non-U.S. citizens and more.

Another data firm plans to seek regulatory certification as a credit bureau for payday lenders.

Lending VPs cite strong underwriting, high demand and low delinquencies as reasons for more CUs to consider student loan options for members.

Less than 12% of all credit unions currently offer student loan products, but analysts and institutions offering that service say now is the time to enter the market.

Awards recognize innovation in lending while maintain sound financial performance.

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.

A new report by credit information giant TransUnion also finds that as auto loan terms lengthen, the less likely consumers are to complete their loans to term.

Hauppauge, N.Y.-based GrooveCar announced that it has added 29 credit union partners since April of this year, bringing the total CU partnerships near 200.