Lending

Default Research Inc. (www.defaultresearch.com) has added the District of Columbia, Illinois, Maryland and North Carolina to the list of states covered in its foreclosure data. The company believes that families in economic distress in those areas will be helped by the Default Research foreclosure leads.

Greystone Residential Funding, Inc. an emerging leader in wholesale lending, announced it has formed a new business relationship with Freddie Mac to bring more lending options to credit unions and other local community lenders.

As an agency priority, NCUA keeps an out for discriminatory practices through various methods, NCUA Director of Examination & Insurance Dave Marquis told a congressional subcommittee last week.

Wright-Patt Credit Union here recently won Prime Alliance's "Best Surging Market Strategy" Award at the mortgage CUSO's annual conference, a prize worthy of particular note because of the area's declining real estate market (a 3.3% foreclosure rate).

Nearly a month and a half since the Small Business Administration launched its new Patriot Express Pilot Loan program, 19 credit unions have been approved to participate.

While the eventual legal outcome of lawsuits filed against credit unions by Lyndon Insurance, including The CU of Texas, may drag on, Credit Union Times has learned that Lyndon assured NCUA back in late August of 2005 that it was not aware of loan alterations changing coverage of Centrix loans.

While the subprime mortgage crisis is now mainstream news, the real estate contraction has eluded the north and south shore of the Long Island, N.Y. peninsula, where home values have done nothing but go up, up, up. The average price of a home here is currently $419,000.

The subprime mortgage losses suffered by the stressed-out Allco Credit Union here have made the mainstream and CU trade press recently, but there is more fire amidst the smoke raised by a late June story in the Milwaukee Journal Sentinel.