Lending

The Nevada Credit Union League said it helped support and defeat several bills in the Nevada legislature that would have affected credit unions in the Silver State.

WASHINGTON — Rep. Edward Royce, R-Calif., a long-time friend to credit unions, urged fellow House members Wednesday to support a Senate proposal that would make significant reforms to Fannie Mae and Freddie Mac.

The rate of small business loan approvals have remained largely stagnant — and at historically low rates — over the past year at credit unions, while such rates have been gradually edging upwards at the big banks, according to the Biz2Credit Small Business Lending Index, a monthly analysis by Biz2Credit.

It's no grace period, but the Consumer Financial Protection Bureau is working placate lender fears of hasty enforcement of its new integrated disclosure rules.

ALEXANDRIA, Va. — Credit union income sources shifted from investments back to loans during Q1, according to a new report from NCUA, with loans up by nearly 11% year-over-year.

VENTURA, Calif. — Ventura County Credit Union announced that it has been named a "preferred lender" by the U.S. Small Business Administration (SBA).

WASHINGTON — The Supreme Court issued a ruling Monday that said second mortgage liens cannot be voided in bankruptcy, even when the first lien is underwater.

The merger of the Federal Home Loan Banks in Des Moines and Seattle became official on Monday, shrinking the overall number of banks in the system to 11.

MemberClose, a provider of a bundled mortgage settlement solution for credit unions, said it has added four CUs from Connecticut to its client list.

The lesbian, gay, bisexual and transgender community overwhelmingly views homeownership as a strong investment, although worries of housing discrimination persist, according to a new study.

The Federal Reserve’s ability to provide emergency lending to institutions in the event of a crisis must be eliminated in order to end “too big to fail,” said Richmond Fed President Jeffrey Lacker

WASHINGTON — Hundreds of lawmakers from both sides of the political aisle are pushing for the Consumer Financial Protection Bureau to grant a grace period for credit unions. banks and other lenders to comply with a new mortgage disclosure rule.

LAS VEGAS — The oft-repeated complaint by credit unions that members brought in through indirect auto loans are difficult to make "real" members has been addressed by CU Direct's purchase of Intuvo, a marketing automation software company.

For several years, strong borrower demand and low delinquency rates have delivered welcome profits to credit unions and banks that target the farming industry. But commodity prices are falling — depressing farmers' incomes and forcing many financial institutions to increase their monitoring of credit trends.

The regulatory relief package coming before the Senate Banking Committee Thursday would force the Federal Housing Finance Agency to withdraw the contentious proposal within 30 days.

The Department of Education issued a proposal Friday that would tighten restrictions on the types of arrangements that colleges can enter into with financial institutions to disburse federally guaranteed loans to students.

Just two days after Rick Menton became CEO of Cherokee Strip, all but one member of the loan department resigned. Yet just 18 months later, the $88 million CU boasts 100% loan growth, 10% membership growth and a positive ROA for the first time in five years at .88%.

WASHINGTON — The Consumer Financial Protection Bureau is taking a closer look at companies that service student loans to determine whether there are patterns of abuse and misinformation in the $1 trillion industry.

Online lending platform LendKey said MidCap Financial has committed to purchase up to $1 billion of student consolidation loans originated on the LendKey platform.

Contrary to the popular belief that recent college graduates are too mired in student loan debt to be interested in borrowing — and wouldn't be the best of risks for a lender to take on — two new surveys suggest grads not only have an appetite for loans but are also likely to manage their debts well, making them an appealing market for credit unions.