Lending

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.

Advocates of CU payday products offer mixed reviews of the bureau's proposed rule aimed at curbing predatory lending.

With the Consumer Financial Protection Bureau expected to clarify its integrated disclosure rules in July, lenders want to know how to remain compliant when unexpected changes come up right before a closing.

While economists, auto dealers and some banks have suggested auto lending will soon be on the decline, credit union executives report volume is still going strong.

A credit union executive was among the 12 appointees to the Department of Housing and Urban Development's new Housing Counseling Federal Advisory Committee aimed at making counseling more accessible for new homebuyers and troubled homeowners.

Although the Consumer Financial Protection Bureau’s long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans offers a nod to NCUA’s Payday Alternative Loans (PALs) program, CUs are concerned the plan will stifle their ability to offer consumer-friendly alternatives to an often predatory market.

Many appraisers are charging more or simply refusing to do FHA work, which to their minds now comes close to, if not crossing into, the remit of the home inspector.

The Department of Housing and Urban Development is telling lenders that down payment assistance programs still qualify for FHA backing despite concerns raised last year by HUD’s inspector general.

WASHINGTON — The House passed a bill by a voice vote Monday that will make it easier for mortgage originators to take a new job across state lines or move from a federally regulated bank to a nonbank lending shop.

Ninety-two percent of homebuyers are reviewing their mortgage documents before closing on the loan since the Truth-in-Lending Act/Real Estate Settlement Procedures Act integrated disclosures, or TRID, went into effect in October, versus 74% previously, a survey by the American Land Title Association found.

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.