Lending

Cox Automotive finds affordability hits a low, while Edmunds finds more buyers are trading in cars that are worth less than their debt.

The 12-month decline in first mortgages is the first in at least 20 years measured by America’s Credit Unions.

Connection is drawn after the Center for Responsible Lending studied borrowing patterns of more than 5,000 low- to moderate-income consumers over a year.

Associations in California and Nevada, and credit unions nationwide, mobilize special programs amid the shutdown.

Fed data shows credit union balances rose for credit cards and other consumer loans in August, while continuing to fall at banks.

Meeting members’ needs for affordable, specialized financing doesn’t have to mean building an entirely new lending infrastructure.