NEW YORK -- Loan products, not income, are the reason why mortgage borrowers default, according to a report released yesterday by the Local Initiatives Support Corp.

WASHINGTON -- A New Jersey Credit Union League program to help smaller credit unions has been awarded a $30,000 innovation grant from the National Credit Union Foundation. This is the 7th of 14 NCUF innovation grants this year.

WASHINGTON -- Declining creditworthiness, tightened credit by lenders and reduced demand for loans from small business borrowers has resulted in a nearly 30% drop in Small Business Administration loans during fiscal year 2008, the agency reported today.

WASHINGTON -- The nation's gross domestic product fell 0.3% during the second quarter, the Commerce Department reported today.