Lending

McLEAN, Va. - In what marks the first installment on Freddie Mac's commitment to fund up to $1 billion in below-market rate mortgages for storm recovery in Mississippi and Louisiana, the housing Government Sponsored Enterprise announced it is making $40 million available in low-cost mortgages to residents in Mississippi who...

DURHAM, N.C. - Latino Community CU, with the help of the Federal Home Loan Bank of Atlanta, has provided $169,500 in home mortgage aid to 34 low-income families. To qualify for the mortgage assistance, the member must use the purchased home as their primary residence. The funds are provided as...

ROCHESTER, N.Y. - On the agenda for the recent Rochester Women's Network Businesswoman's Conference were topics on everything from the city's economy to innovative ways to grow a business. On Nov. 1, the Rochester Women's Network held its 10th annual Businesswomen Conference, which was co-sponsored by $2.8 billion ESL FCU,...

ATLANTA - To support its business services program, Delta Community Credit Union has aligned with Member Business Solutions, LLC. The $2.6 billion credit union, which changed its name from Delta Employees Credit Union in early October, said aligning with MBS was the right move. "Our expertise is in consumer and...

PALO ALTO, Calif. - With its bustling university surroundings and amalgamation of wealth and real estate development, Palo Alto has reached its maturation point when it comes to home construction. That's part of the reason the $644 million Stanford Federal Credit Union (SFCU) has expanded its three-year business lending program...

ALEXANDRIA, Va.-Third party marketing materials can be sent out with a federal credit union's monthly account statement and newsletters. According to a legal opinion letter (05-0823) from NCUA Associate General Counsel Sheila Albin, mailing advertisements for third parties, such as an investment firm in this instance, is permissible as a...

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...