Lending

California Real Estate Commissioner Jeff Davi warned the state's financial institutions in a fraud alert that his department has noticed a sharp increase in short-sale fraud.

Clarity Member Services, through its parent company, The Money Source of Melville, N.Y., announced its new service to purchase closed loans from credit unions.

The $2.2. million Thurston Union of Low Income People Credit Union, headquartered in Olympia, Wash., is celebrating a $75,000 loan from the U.S. Treasury's Community Development Financial Capital Initiative.

Bank of America and United Midwest Savings Bank are the first financial institutions to assemble SBA 504 first mortgage pools to be sold on the secondary market, the agency said today.

LAS VEGAS -- The American Credit Union Mortgage Association wanted attendees at its 2010 annual conference to walk away with two convictions.

LAS VEGAS -- The economic downturn has forced many credit unions to take a more "real world" approach to their mortgage lending.