Lending

Access Capital Investment Group reached a milestone with the August sale of two more Centrix CU portfolios, bringing the total to $65 million for the last 12 months, said Seth Meyer, ACIG's secondary market manager. He predicted reaching the $100 million mark by year's end.

The Small Business Administration is asking for comment on its Strategic Plan for Fiscal Years 2008 through 2012, which was released on Friday.

In the first in-person interview he has granted to the credit union press since the bankruptcy of Centrix Financial, Robert Sutton called the taking down of the Centrix Portfolio Management Program, the subsequent fallout for credit unions and bankruptcy of Centrix Financial, a tragedy that didn't have to happen.

Calming the waters a bit in the nation's tight credit markets, Countrywide Financial Corporation, the leading mortgage lender and servicer in the U.S., announced yesterday that it received a $2 billion strategic equity investment from Bank of America. Last week Countrywide drew down on its full $11.5 billion line of...

Toll Brothers, the nation's largest builder of luxury homes announced that its third quarter earnings were down 84%. Year-to-date earnings are down $26.5 million the company said, attributing the losses to the downturn in the luxury home market and the credit/liquidity crunch, and sales are down 21% from a year...

The nation's mortgage meltdown is triggering a call to action among credit unions with mortgage specialties.