Lending

EL PASO, Texas - Greg Davis, senior loan officer of FirstLight FCU, has been named the 2005 Mortgage Banker of year by the El Paso Mortgage Bankers Association. Davis has been with FirstLight FCU, formerly called Fort Bliss FCU, for 14 years. He served as vice president of the EPMBA...

AUSTIN, Texas - Velocity Credit Union says it's ready to serve members who have been requesting business deposit services. The $502 million CU now offers a number of business checking accounts to complement business loan offerings made available through a partnership with six other Austin-based credit unions that formed CU...

NEW YORK - Credit unions and their members will now have access to a suite of information technology services through an expanded endorsement agreement between Newtek Business Services, Inc. and CUNA. The services include data storage backup, archival and retrieval services, Web site hosting, and Web site design and development...

McLEAN, Va. - Freddie Mac recently announced three new Internet-based servicing tools designed to help services decrease costs by streamlining several data management and default reporting operations. Of the three new tools, Default Reporting ManagerT and Incentive ManagerT are available immediately; the third - Remedy ManagerT - is expected for...

McLEAN, Va. - Fewer homeowners refinanced their homes in the fourth quarter 2005 than the previous quarter, but a larger percentage of those who refinanced did so with loan amounts greater than their original mortgage balances. In its quarterly refinance review, Freddie Mac reported that in the fourth quarter of...

WASHINGTON - Higher interest rates seen last year appeared not to have affected the demand for loans to small businesses, according to a recent SBA senior loan officer's survey. Interest rates have continued to rise, with the average prime rate for 2005 nearly two percentage points higher than the 2004...