Lending

WASHINGTON — Two senior members of the House Financial Services Committee on Monday introduced H.R. 1188, the Credit Union Small Business Jobs Creation Act, which would increase the member business lending cap for qualified credit unions to 27.5% from its current 12.25%.

Loan growth at federally insured credit unions reached a nine-year high in the fourth quarter of last year, while membership soared past the 99-million mark, according to a new report from the National Credit Union Administration (NCUA).

WASHINGTON — The Federal Housing Administration's recent premium reduction is undercutting the private sector and expanding the government's role in the housing market, housing finance industry representatives told a House subcommittee on Thursday.

While credit unions have remained a strong player in this arena, bank lending to small businesses, moribund since the financial crisis, is finally starting to gather steam.

NCUA will join the U.S. Small Business Administration to present a webinar focused on small business lending.

Problems related to loan servicing dominate the consumer complaints about mortgage companies made to the Consumer Financial Protection Bureau, but an agency official expressed optimism about the industry's response to these grievances.

SPRINGFIELD, Va. — The U.S. Small Business Administration signed a memorandum of understanding with NAFCU aimed at expanding American entrepreneurs better access to small-dollar business loans.

In a report that was inspired by numerous reports suggesting that a dangerous bubble is forming in the subprime auto loan market similar to the conditions that presaged the mortgage meltdown, Equifax Inc. seeks to debunk those claims.

PHOENIX — As the real estate market rebounds in the Grand Canyon state's capital, once credit union here reports that a new mortgage program is attracting significant new lending business.

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.