Lending

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.

Lifting the personal guarantee requirements in certain cases could open up some lucrative niche markets, according to one MBL expert.

Intuvo, a company that provides marketing automation software to the credit union industry, and a division of CU Direct, announced that it has entered into new partnership agreements with Royal Credit Union and La Capitol Federal Credit Union.

The agency's updated regulation gives credit unions new flexibility—a flexibility that a number of performance metrics suggest the industry can handle, according to the regulator's historic data.

Realtors Federal Credit Union, a division of $3 billion Northwest Federal Credit Union, has begun offering real estate escrow accounts after lobbying to expand the availability of such accounts.

NCUA released a new resource that helps credit unions to learn more about member business lending in the wake of new rule changes.

SAN ANTONIO — SWBC's Lending Solutions on Tuesday said it recently enhanced the integration of its LendingXpress Platform with MeridianLink's LoansPQ Consumer Lending Loan Origination System.

CRIF Lending in Atlanta has bought the Credit Union Auto Loan Network in Linthicum, Md.

LendKey, which manages online lending programs for small banks and credit unions, has named Salil Mehta to senior vice president of credit risk and analytics.

National Association of Realtors survey finds less than 30% of lenders willing to show closing document to Realtors as CFPB's new closing document put lenders on hook for accuracy.

During the fourth quarter of 2015, U.S. auto loans carried longer terms, while average monthly payments rose, and a larger percentage of loans went to less creditworthy borrowers, according to a new report from Experian Automotive.