Lending

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.

CU Companies in New Brighton, Minn., added four retail lending partners and one correspondent lending partner to its mortgage department in June.

Two executives share strategies for getting members who join as a result of an indirect loan to become more full invested in the credit union.

Installment lenders are concerned that efforts by the Consumer Financial Protection Bureau to curb the most abusive and predatory practices associated with payday loans will wreak havoc on their business.

Four credit union executives explain the key ideas and solutions that have worked to increase their institutions' auto-lending portfolios.

The U.S. mortgage market is of course considerably smaller, safer and less accessible than it was nine years ago.

WASHINGTON — Community banks and credit unions would be forced to stop making short-term, small dollar loans if the Consumer Financial Protection Bureau's payday lending proposal is adopted, two trade groups said Monday.

The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.

Industry and consumer groups are calling on the Federal Housing Finance Agency to reduce the loan fees that homebuyers have to pay on Fannie Mae and Freddie Mac guaranteed mortgage loans.

The National Credit Union Administration will host “Micro-Enterprise Lending: Making Loans to Small Business,” a webinar designed to help credit unions learn how to assist small-business members.