Lending

SHREVEPORT, La. -- A snapshot poll comprised by the African-American Credit Union Coalition currently shows that subprime mortgage loans are causing most of the delinquencies in loan portfolios.

BOSTON and PALO ALTO, Calif. -- The subprime mortgage crisis has caused the number of companies sued in securities fraud class action suits to rise 43% between 2006 and 2007, according to a report from Cornerstone Research and Stanford University.

NEW YORK, N.Y. -- Citigroup announced that it was revamping its residential mortgage operations by bringing all its previously separate units, underwriting, back-office functions and collections under one roof.

PASADENA, Calif. -- Wescom spoke with the Credit Union Times today to clarify reports the $2.8 billion credit union is out of the wholesale lending business, and has laid off 100-plus employees.

PASADENA, Calif. -- Wescom spoke with the Credit Union Times today to clarify reports the $2.8 billion credit union is out of the wholesale lending business, and has laid off 100-plus employees.

PLEASANTON, Calif.--It appears that another California credit union is feeling the bite of the real estate downturn.