Lending

Everest National Insurance has vowed to continue paying default protection insurance (DPI) on subprime auto loans purchased through the Centrix Portfolio Management Program (PMP), but a possible settlement is worrisome to officials at the NCUA and of concern to many credit unions as well.

Michael McGrath, president of CU National Mortgage and its parent company, US Mortgage Corp, has been appointed to the Fannie Mae Customer Advisory Board, giving CUs their first presence on the influential board. CU National Mortgage is a mortgage product and service provider to credit unions nationwide that serves over...

Totally maxed out, Paragon Federal Credit Union's member business lending program is feeling the pains of the federal regulatory cap on such loans.

In a move to expand its reach with independent auto dealers, CU Direct Corp. said it has reached an agreement with Manheim Automotive Financial Services to offer its inventory financing/funding package to client CUs.

Mazuma Credit Union is among the latest in the industry to become a Small Business Administration 7(a) Express lender.

The Financial Services Roundtable's Housing Policy Council lauded NeighborWorks America and The Ad Council on its new public awareness campaign launched to help prevent home foreclosures. Commercials will be shown nationwide that urge homeowners in financial trouble to call 888-995-HOPE. In excess of one million households are expected to enter...