Lending

When it comes to millennials, the $64,000 question is when will this generation be ready to start buying their first homes?

The Federal Home Loan Bank of Topeka has announced a new plan to allow its members to invest in mortgages originated under the Mortgage Partnership Finance program.

In less than four months, mortgage providers across the nation must be ready to meet new disclosure requirements.

The mortgage application and closing process is once again facing an overhaul. The Consumer Financial Protection Bureau will soon require lenders to provide customers with integrated disclosure forms, which aim to clarify costs associated with real estate transactions. As with any new process, the switch poses a number of challenges for lenders — and could even put business at risk during implementation. Here are five pitfalls to look out for in the process.

Credit unions as a whole will continue to grow their share of the mortgage market in 2015 and into 2016, say industry experts.

During his 21 years in Congress, Mel Watt helped usher in several major changes to the financial services industry, from the Gramm-Leach-Bliley Act to the Dodd-Frank Act.

WASHINGTON — The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt.

After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products.

Subprime auto lending has become a top priority for the CFPB, said Steve Antonakes, the agency's deputy director on Wednesday. He also revealed that it was open to making changes to its complaint portal, which the agency recently said would allow consumers to post detailed narratives of their problems with financial institutions.

BURBANK, Calif. — Three years ago Burbank Community Federal Credit Union rebranded itself as UMe Federal Credit Union. With a mobile-first product strategy, the $165 million CU has realized significant market gains, including a 30% jump in real estate lending.

As banks and alternative lenders start approving more small business loans, credit unions are facing growing competition for marketshare.

WASHINGTON — President Obama has directed the Department of Education and other agencies to institute changes meant to improve student loan servicing in an initiative the White House calls "a student aid bill of rights."

GREENVILLE, S.C. — Faced with soon-to-be non-existent investment income in 2009, Greenville Heritage FCU had two choices: hike fee income, or completely rebuild its loan program.

Home prices have not recovered enough to protect the states with high concentrations of home equity lines of credit whose rates are scheduled to reset in the next few years.

Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline.

At least one of the major banks appears to be pulling back from auto lending, and credit unions may be well poised to pick up the slack.