Lending

WASHINGTON — The U.S. Small Business Administration (SBA) and NCUA have jointly announced a partnership aimed at encouraging credit unions to make more SBA-backed loans and urging small businesses to turn to CUs for such loans.

ALEXANDRIA, Va. — A new program from Pentagon FCU aims to cut members' monthly payments down to size without the added hassle of going through the full refi process — and making some extra money for the CU, too.

MADISON, Wis. — The Filene Research Institute and the Cooperative Trust — the CU networking and professional development group for young adults in the credit union movement — have released a new white paper examining the impact of college debt on Millennials.

TEWKSBURY, Mass. — Tewksbury FCU and CU Close LLC, have launched a new collaborative enterprise to help lenders and credit unions profit from combined volume and more efficient vendor management.

The ever-growing compliance burden is chipping away at much-needed training for business loan officers, leading to a basic skills gap that could be hampering their ability to make loans.

In yet another revision of its mortgage rules, the Consumer Financial Protection Bureau proposed making it easier for small and rural lenders to make "qualified mortgages." Industry representatives said the changes are poised to make a big difference.

NCUA, in partnership with the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council (FFIEC), announced new guidance for credit unions and banks on private student loans with graduated repayment terms at origination.

The Consumer Financial Protection Bureau on Thursday proposed a series of regulatory relief measures for small institutions, especially those in rural areas, to help them provide credit while they try to follow the agency's tough mortgage rules.

MADISON, Wis. — When it comes to private student loans, the growing success of Internet-driven lending models that can offer lower rates has caught the attention of some credit unions executives.

At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds.

WASHINGTON — Greater availability of mortgage credit along with an improving picture in the general economy will make 2015 a year of "housing opportunity," Housing and Urban Development Secretary Julian Castro said Wednesday.

Credit unions provide better interest rates on customers' checking and savings accounts than other financial institutions, according to a report from personal finance social network WalletHub, a unit of Evolution Finance.

WASHINGTON — Housing and Urban Development Secretary Julian Castro moved swiftly on Thursday to defend pending cuts to the Federal Housing Administration's premiums, rebutting GOP arguments they are premature.

Credit unions are making community banks sweat in the small business lending arena.

A strong 2014 for credit unions should bode well for the New Year—at least as far as lending is concerned.

VIENNA, Va. — In a sign that the nation's largest credit union plans to expand its member business lending, Navy Federal has created a dedicated commercial participation loan position.

WASHINGTON — Mortgage lenders are hoping the new Republican-controlled Congress is going to be more receptive to making changes to the "qualified mortgage" rule.

WASHINGTON — The Federal Housing Finance Agency is in an uncomfortable spot in 2015, caught between a Republican majority already critical of its recent actions and an Obama administration bent on increasing access to credit in part by using the agency's powers.