Lending

June 27 marked a turning point in the continuing tale of woe in the subprime mortgage market, with federal regulators issuing new rules that go into effect immediately.

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 serve over...

CUNA Mutual Group today announced it has acquired CU BizSource from MEMBERS Development Company.

Friday marked a turning point in the continuing tale of woe in the subprime mortgage market, with federal regulators issuing new rules that go into effect immediately. Cascading losses and spiking foreclosures, particularly caused by adjustable-rate mortgage products that explode when rates balloon from initial "teaser" rates proved the straw...

In what appears a new and innovative approach to payday products, the $200 Family Trust Federal Credit Union said today it is getting an "outstanding" public response to "Lifeline Advance" loans incorporating both a savings feature and a $35 program fee.

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.