Lending

The Consumer Financial Protection Bureau is set Thursday to propose new disclosures for federal student loans that would require servicers to provide several repayment options for borrowers.

Borrowers continue to get smarter about the mortgage process, but from questions about closing costs to the minimum down payment and credit score needed to qualify, there's still a lot that can keep consumers confused during the origination process, or worse, on the sidelines of the market entirely.

ONTARIO, Calif. -- CU Direct has become the latest organization to take an ownership stake Members Development Co., the firm announced in a Tuesday news release.

Auto lending has enjoyed a serious boost in volume, and one segment — subprime loans — has followed suit, but a recent study suggests a spike in delinquencies and charge-offs is in the offing.

Senate Banking Committee Chairman Richard Shelby, R-Ala., is seeking input from the Government Accountability Office and the Congressional Budget Office on the future of policies dealing with Fannie Mae and Freddie Mac.

Even while FHFA finally embarked on a principal reduction plan, critics argued it was a dangerous idea that made Fannie Mae and Freddie Mac less safe while helping relatively few people.

The Credit Union National Association has released a new Financial Flash entitled “Concentration Risk: Guidance on Policy and Metrics.”

While many CUs avoid the product that some consumer advocates deem predatory, the CUs that do offer them say it's a service members want and need and can be done in consumer-friendly way.

GrooveCar Inc. has partnered with 40 more credit unions that can use its online auto-buying service.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

Credit unions have a dominant auto lending presence in the West, boasting as much as a 50% marketshare in some areas. Credit Union Journal explores what is driving that dominance.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

The Consumer Financial Protection Bureau has implemented a new rule that broadens the ability of lenders in rural and underserved areas to originate qualified mortgages.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issues a proposal to rein in high-cost payday loans. A chief concern is what will replace payday lenders if federal regulations force many of them to shut down.

CU lobby emphasizes movement's commitment to keeping people in their homes but expresses concern about setting a 'dangerous precedent' with principal cuts.

Homefield Credit Union in North Grafton, Mass., will be able to offer first-time homebuyers assistance with down payments and closing costs for the second consecutive year through the Equity Builder Program with the Federal Home Loan Bank of Boston.

The House passed a bill late Monday to extend foreclosure relief for military service members through the end of next year.

CU Xpress Lease and CUNA Mutual Group will expand their collaboration into major auto leasing markets in Florida, California, New Jersey, New York, and Massachusetts, in an effort to help credit unions, auto dealers and members secure and safeguard more automobile leases.