Lending

While the subprime mortgage crisis is now mainstream news, the real estate contraction has eluded the north and south shore of the Long Island, N.Y. peninsula, where home values have done nothing but go up, up, up. The average price of a home here is currently $419,000.

The subprime mortgage losses suffered by the stressed-out Allco Credit Union here have made the mainstream and CU trade press recently, but there is more fire amidst the smoke raised by a late June story in the Milwaukee Journal Sentinel.

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

In a draft report scheduled to be discussed at Senate oversight hearing today, the Small Business Administration's Office of the Inspector General criticizes the agency for canceling more than 7,700 "approved" disaster assistance loans to those business owners impacted by 2005's deadly hurricanes.

Adopting a novel approach to payday lending, the $1.1 billion Arizona State Credit Union is partnering with a Tucson health care employer to help its workers "break the debt cycle" to payday shops.

Last year's American Credit Union Mortgage Association credit union booth at the National Association of Realtors convention will be jazzed up for the 2007 convention with the Cha-Ching! sound of free slot machines that won't pay in coins but in electronics and other prizes for real estate agents learning about...