Lending

Neighborhood Mortgage Solutions LLC announced the appoint of Greg Wischmeyer as CEO. Wischmeyer comes to NMS with over 30 years of experience in the lending market. He will lead a team of mortgage professionals from the CUSOs home office located in Frankenmuth, Mich.

Multi-featured lending has been a hot topic since changes to Reg Zs open-end rules were announced in 2009. The most recent development is the NCUAs July 2012 letter to federal credit unions, 12-FCU-02, and accompanying supervisory letter to examiners.

Congress has two opportunities this year to reach back to the Main Street voters who elected them. Neither costs taxpayers a dime. Two bills would enable credit unions to provide affordable capital to consumers and to small businesses. It makes sense, then, for Congress to act this year to enact...

Although many credit unions may not have realized it, the second version of the federal governments Home Affordable Refinance Program is a more workable and beneficial for both borrowers and credit unions than its predecessor, according to housing finance executives at credit unions that have begun making the loans.

Jim Adamczyk can remember receiving an increase in calls from banks interested in FAIRWINDS Credit Unions auto loan portfolio.That was as recent as 2010, said Adamczyk, executive vice president of lending, for the $1.7 billion cooperative in Orlando, Fla.

The trade association, in a letter to CFPB released late Thursday, urges focus on problem lenders without sweeping new regulations. Comment deadline is Friday.