Lending

The year 2007 was different for everyone in the mortgage industry. Much has already been reported in the media, but there is probably a lot more that could have--and should have--been said.

GFA Federal Credit Union recently announced it is offering a reverse mortgages program--yet another home loan option to serve members' financial needs.

Los Angeles FCU here didn't need a Federal Reserve rate cut to offer a great deal on Home Equity line of Credit loans (HELOCs). LAFCU is featuring a 3.49% introductory rate for six months and a ten-year draw and still finds plenty of takers. With no points and no annual...

A shaky stock market, a credit crunch, and a mortgage meltdown were the signals that led CUMAnet here (www.affinityfcu.org) to respond with a "Loan Health Check-Up" service for all member credit unions.

BMI FCU here is celebrating the success of a mortgage program it started in the 1970's, said president/CEO Sharon Custer. And it's also proud that, like other credit unions, it didn't go astray into foolish lending and end up holding losses for which it could only blame itself.

RICHMOND, Va. -- Payday lending in Virginia has apparently taken another step toward survival albeit with additional restrictions.