Lending

In the April 18, 2007 edition of Credit Union Times, Brian Hague, CFA president/CEO of CNBS, LLC noted that the housing slump resulting from the subprime mortgage meltdown was gaining traction, and threatened the broader economy. There was no consensus then, but three months later the bandwagon is rather more...

NCUA, together with the other federal financial institutions regulators, issued a final statement on subprime mortgage lending addressing emerging risks and outlining practices related to subprime adjustable rate mortgages that can cause "payment shock."

A Moody's study from date supplied by Equifax and Moody's Investors Services that assesses how much further credit conditions will deteriorate is available at www.economy.com.

The Federal Reserve Board published last week its annual adjustment of the dollar amount that triggers additional disclosure requirements under the Truth in Lending Act for mortgage-related fees.

Can the Small Business Administration's 504 loan program essentially "eliminate" the 12.25% member business lending cap?

Steve Von Sickler, SVP and chief lending officer for Red Rocks Credit Union here, is also chairman of the ACUMA Regulatory Compliance Committee that drafted an extensive response to the NCUA's request for comment on subprime lending. The recently released Interagency Statement on Subprime Mortgage Lending, he said, "included most...