Lending

The Department of Defense has released its final regulation capping interest rates--and creating a new Military APR--at 36% on payday loans, vehicle title loans, and tax refund anticipation loans.

To help examiners and credit unions better assess the safety and soundness of the growing size and complexity of member business lending programs, NCUA has created the member business lending program officer position.

While much discussion regarding subprime lending has focused on direct loan portfolio risk, little has been said about another type of balance sheet exposure: mortgage-backed investments, which gained in popularity during the real estate boom.

Although credit unions originated very few subprime mortgage loans comparatively with other mortgage lenders, the non-profits might still take an indirect hit as a result of the mortgage industry's woes.

In the first in-person interview he has granted to the credit union press since the bankruptcy of Centrix Financial, Robert Sutton called the taking down of the Centrix Portfolio Management Program, the subsequent fallout for credit unions and bankruptcy of Centrix Financial a tragedy that didn't have to happen. He...

Access Capital Investment Group reached a milestone with the August sale of two more Centrix CU portfolios, bringing the total to $65 million for the last 12 months, said Seth Meyer, ACIG's secondary market manager. He predicted reaching the $100 million mark by year's end.