Lending

The management team of the now-defunct Norlarco Credit Union inadequately managed its residential lending program, while NCUA and Colorado regulators didn't monitor the credit union closely enough or pay attention to safety and soundness concerns.

The debt-to-income ratio of credit union members applying for mortgage modifications during the last year was 50.5%, according to NAFCU's Flash Report released today.

The $3 billion Randolph-Brooks Federal Credit Union has been named the Small Business Administration's top 7(a) program lender in the small lending category.

CUDL and Prime Alliance are teaming up to host a series of 11 Webcasts focused on various auto and mortgage lending strategies between now and October.

From Feb. 17 through May 1, 361 lenders that had not previously made a Small Business Administration loan since Oct. 2008 are now making 7(a) loans, the agency said. Of those lenders, 166 had not made a loan since at least 2007.

Despite California being one of the hardest hit states in lending, Member Business Services said its 2008 loan portfolio surpassed 2007 by 32% and so far, the momentum has continued.

The continuing problems of the economy in general and the housing market in particular have again taken their toll on Fannie Mae, which reported a $23.2 billion loss for the first quarter.

The $3 billion Teachers Federal Credit Union has partnered with MEMBERS Trust Co. to offer a reverse mortgage program to its members.