Lending

MC LEAN, Va. - Saying "Freddie Mac's action will go a long way toward bringing critically needed capital into the Gulf Region," HUD Secretary Alphonso Jackson commended Freddie Mac's decision to purchase an estimated $300 million worth of single-family mortgages that were closed between June 1 and August 20 and...

ANN ARBOR, Mich. - In just a little over a year, Michigan Business Connection, LC has reached two milestones. The business lending CUSO, which provides commercial underwriting and loan origination services to credit unions throughout Michigan, has exceeded the $100 million mark in underwriting and has funded $20 million in...

OTTAWA, Canada - At first thought American lenders might assume eliminating the mortgage deduction from income taxes would at least slow down currently brisk home sales in the U.S. But Canadians are used to that situation, and it doesn't seem to discourage them from becoming homeowners in impressive numbers. The...

WASHINGTON - House Small Business Committee Chairman Don Manzullo (R-Ill.) introduced legislation on Sept. 21 that aims to lower the tax burden that he says "hampers" small employers' efforts to compete in the global economy and create American jobs. The Small Employer Tax Relief Act of 2005, HR 3841, includes...

ANCHORAGE, Alaska - When it comes to member business lending, Alaska stands out among credit unions in the Lower 48 and Hawaii. Of the 13 credit unions here in the "Last Frontier" state, 10 currently have MBLs on the books. The distinction is the average loan is roughly $545,000, which...

SAN ANTONIO - San Antonio Federal Credit Union is going first again. Perhaps the first credit union in the country to do indirect auto lending, beginning nearly 20 years ago, the $1.8 billion CU now is the first to use DealerTrack's eContracting, a document system that SACU officials say is...

Despite some mortgage experts' predictions of a housing bubble, there was no let up in mortgage lending activity among credit unions nationwide in the first quarter 2005. As shown in the chart below of CU mortgage activity by state as of March 2005, CUs generated a total $11.9 billion in...

RALEIGH, N.C. - Being one of the leading credit union mortgage lenders in the U.S. hasn't stopped State Employees' CU from making widespread changes to its mortgage lending programs since the beginning of the year. In fact, hard as it may be to believe that a credit union that originated...