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On-Site Coverage: Norlarco and Others Covered by Denver Post; CU Mortgage Conferences Open; Fed to Act

By Staff Writer

As an article in Saturday's Denver Post took note of some Colorado credit unions' exposure to mortgage loans, including the "troubles" at Norlarco in Fort Collins, where loans in Lee County Florida make up 20% of the portfolio (with $70 million in default) two mortgage-centered CU associations are meeting here...

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New NCUA MBL Officer Ross to Keynote Business Lending Summit

News

Payday Lenders Tout GAO Findings that DoD Lacked Support for Some Conclusions

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Lending Stories

September 11, 2007

Brooke Strohman Promoted to CRI Systems President

CRI Systems, Inc., a customized credit union lending channel technology provider, has promoted former Vice President of Technology Brooke W. Strohman to president of CRI Systems.

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September 11, 2007

MDDCCUA Urges D.C. City Council to Extend 24% APR Cap to Payday Lenders

The Maryland & D.C. Credit Union Association wrote a letter to the District of Columbia City Council last week encouraging the council to extend its current 24% usury cap to cover payday lenders in Washington, D.C.

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September 11, 2007

Fired Texans Commercial Capital Execs Sue CUSO, Texans CU, and CEO

In a case that appears to center around an offer from a credit union that wanted to buy a stake in a highly successful commercial lending CUSO, discussions of a bank conversion and unpaid compensation packages, three former executives with Texans Commercial Capital, LLC have filed a lawsuit against the...

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September 10, 2007

Countrywide Layoffs, Job Losses Roil Wall Street; Fed Action Sought

Countrywide Financial announced late Friday that it would layoff as many as 12,000 workers, nearly 20% of its workforce, in an effort to trim costs in a down mortgage market. IndyMac Bancorp, another large lender also said it would trim 1,000 employees, or 10% of staff to save money.

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September 05, 2007

Norlarco Lesson: Stay Local, Urges Sterner

Credit unions hit by the Norlarco failure are learning some harsh lessons about staying local and chasing yield, the chairman of the Colorado Credit Union Association William Sterner, warned Tuesday.

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September 04, 2007

NCUA Creates New Member Business Lending Program Officer Position to Help Examiners Keep Pace

Given the significant growth in the size and complexity of credit unions' member business lending programs, NCUA has created a new position to help examiners assess safety and soundness.

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September 04, 2007

NAFCU Economist Predicts Housing Slump Could Be Improving as New Home Sales Increase in Western U.S.

Increasing new home sales in the western part of the country could mean the housing slump is turning the corner, NAFCU Chief Economist Tun Wai forecast.

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Lending

Top Lending Stories

On-Site Coverage: Norlarco and Others Covered by Denver Post; CU Mortgage Conferences Open; Fed to Act

New NCUA MBL Officer Ross to Keynote Business Lending Summit

Payday Lenders Tout GAO Findings that DoD Lacked Support for Some Conclusions

Recommended Just For You

Lending Stories

Brooke Strohman Promoted to CRI Systems President

MDDCCUA Urges D.C. City Council to Extend 24% APR Cap to Payday Lenders

Fired Texans Commercial Capital Execs Sue CUSO, Texans CU, and CEO

Countrywide Layoffs, Job Losses Roil Wall Street; Fed Action Sought

Norlarco Lesson: Stay Local, Urges Sterner

NCUA Creates New Member Business Lending Program Officer Position to Help Examiners Keep Pace

NAFCU Economist Predicts Housing Slump Could Be Improving as New Home Sales Increase in Western U.S.