Lending

SPOKANE, Wash. -- Pointing to changes in new federal rate-cutting rules and lowering of the guarantee, the $1 billion Spokane Teachers Credit Union is getting out of the student loan business effective this fall.

GERMANTOWN, Md. -- Mid-Atlantic Federal Credit Union recently funded its first loan under the Small Business Administration's 7(a) loan program.

WASHINGTON -- The turnout for a series of public forums put together by the Small Business Administration on its proposed lender oversight and risk rating system has been fairly strong with nearly 120 people attending including representatives from several credit unions.

WASHINGTON-- Offering some help to troubled homeowners, The Foreclosure Prevention Act of 2008 (S. 2636) may soon be voted on by the full Senate. Following last week's debate over amendments, the basic package has wide bipartisan support.

CHARLOTTE, N.C. -- IBM Lender Business Process Services, Inc., a subsidiary of IBM, has partnered with Coastal Federal Credit Union to provide mortgage origination and processing services.

WASHINGTON -- Even as the number of franchises has increased 65% over the past five years, this segment of the small business sector still remains an untapped market for credit unions and banks.