Lending

CHICAGO -- The National Credit Union Foundation's eighth innovation grant this year is going a community development credit union that seeks to help its members with predatory car loans.

NEW YORK -- While more financial aid is available for students than ever before, the number of private loans for higher education began to shrink even before the current credit crisis, according to a study on financial aid trends recently released by the College Board.

HOUSTON -- What business model could have averted the current economic crisis? Cooperatives and credit unions, offered Paul Hazen, president/CEO of the National Cooperative Business Association.

McLean, Va. -- The 30-year fixed-rate mortgage this week averaged 6.46% with an average 0.7 point for the week ending Oct. 30, 2008. That's up from last week when it averaged 6.04%.

NEW YORK -- Loan products, not income, are the reason why mortgage borrowers default, according to a report released yesterday by the Local Initiatives Support Corp.

WASHINGTON -- Declining creditworthiness, tightened credit by lenders and reduced demand for loans from small business borrowers has resulted in a nearly 30% drop in Small Business Administration loans during fiscal year 2008, the agency reported today.