Lending

NCUA, together with the other federal financial institutions regulators, issued a final statement on subprime mortgage lending addressing emerging risks and outlining practices related to subprime adjustable rate mortgages that can cause "payment shock."

A Moody's study from date supplied by Equifax and Moody's Investors Services that assesses how much further credit conditions will deteriorate is available at www.economy.com.

The Federal Reserve Board published last week its annual adjustment of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for mortgage-related fees.

Can the Small Business Administration's 504 loan program essentially "eliminate" the 12.25% member business lending cap?

Steve Von Sickler, SVP and chief lending officer for Red Rocks Credit Union here, is also chairman of the ACUMA Regulatory Compliance Committee that drafted an extensive response to the NCUA's request for comment on subprime lending. The recently released Interagency Statement on Subprime Mortgage Lending, he said, "included most...

Kinecta Federal Credit Union has purchased Carson, California-based Nix Check Cashing for approximately $45 million. Nix parent company Navicert Financial, Inc. will first be housed under a credit union CUSO, Kinecta Alternative Financial Solutions, Inc., but will eventually be folded into the credit union as a division.