Lending

The Wisconsin Credit Union League has now added its weight to the growing trend of countering foreclosures and predatory mortgages with the credit union common sense approach to real estate lending.

Southwest Business Corporation recently announced that it has added a Reverse Mortgage Division to its credit union mortgage services menu. SWBC President/CEO Gary Dudley said the company recognized the growing demand for the product and was responding to CU-client inquiries.

If you are shopping for a used car and you have less than A or B credit, you'll pay a higher interest rate on a loan. That's a given, and even subprime borrowers who aren't financially savvy know it from experience. But just how bad a deal can you get?...

In a novel twist to payday lending, a Phoenix credit union, the $1.1 billion Arizona State, has agreed to a partnering pact with a Tucson health care employer to help its workers "break the debt cycle" to payday shops.

Paragon Federal Credit Union said its member business lending program is "totally maxed out" and is feeling the pains of the federal regulatory cap on such loans.

Debuting what is being called an innovative approach to payday products, the $200 million Family Trust Federal Credit Union has rolled out "Lifeline Advance" loans incorporating both a savings feature and a $35 program fee.

May savings came in strong even without the "payroll effect" and in line with CUNA's forecast, according to Chief Economist Bill Hampel.

June 27 marked a turning point in the continuing tale of woe in the subprime mortgage market, with federal regulators issuing new rules that go into effect immediately.