Credit unions

A joint venture formed by a regional credit union trade group and a loan servicer has a simple mission: to help small credit unions that lack expertise in SBA lending jump into the booming 7(a) market.

WASHINGTON — The House passed a massive $340 billion transportation bill on Thursday, striking two key provisions hated by the banking industry while adding several other measures that could affect financial institutions.

Accurately capturing mortgage data to meet new federal regulators is a top challenge for banks and credit unions, according to Wolters Kluwer Financial Services.

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

NCUA said it has entered into an agreement under which investment bank Barclay's Capital will pay $325 million to resolve claims arising from losses related to the purchase of faulty residential mortgage-backed securities by corporate credit unions.

Should credit unions step into a giant breach gradually being vacated by the big banks, or is the bank pull-out a sign that CUs should do the same?

The window for moving financial services regulatory relief through Congress is rapidly closing, but there appears to be little hope that the partisan tensions that have stalled the process will ease in time.

Credit unions are no longer the tiny cooperatives they were a generation ago.

Credit union loan balances grew at an 11% annualized pace in June, while loan delinquency rates fell, according to the latest Credit Union Trends Report from CUNA Mutual Group.

United Wholesale Mortgage has begun offering interest-only mortgages through its third party origination channels.