Lending

A recent auto sale at $1.4 billion asset Nassau Educators Federal Credit Union (NEFCU) yielded three times the usual application volume with an 89% approval rate. READ MORE

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This spring, the Federal Reserve Board amended Regulation E to implement the gift card provisions of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. READ MORE

A recent auto sales event yielded three times the usual amount of applications. READ MORE

Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry grew 7% from 2008 to 2009, according to The 12th Periodic Mortgage Fraud Case Report  from the Mortgage Asset Research Institute , a LexisNexis® service. “While this is a noticeable increase, we believe that mortgage fraud is... READ MORE

There are a variety of schemes by which mortgage fraud can take place—sometimes involving staff inside the financial institution. The Federal Financial Institutions Examination Council  warns financial institutions to be on the watch for these common mortgage schemes: 1. Buy and bail This scheme typically involves a borrower who is... READ MORE

After five consecutive weeks of auto price gains and nine weeks of truck price gains, vehicle pricing is showing signs of stabilization, says Ricky Beggs, vice president and managing editor for Black Book USA, a Gainesville, Ga., publisher of electronic and print valuation guides. Each week, Black Book representatives attend... READ MORE

When auto loans go bad, collateral-management tools help CUs pick up the pieces. In today’s tough economy, when many people are defaulting on car loans, you’d expect auto repossession agents to be rolling in clover. But they’ve also run into tough times. “Just when you’d think there... READ MORE

Rate competition becomes intense as auto makers unleash incentives. Focus •  CU auto loans as a percentage of total loans dropped from 39.4% in 1999 to 30.3% in 2009. •  Lenders that find ways to say “yes” to auto loan applications are garnering double-digit growth. •  Board... READ MORE

CUs set records in 2009 for mortgage originations and sales in the secondary market. Focus •  U.S. home sales dropped in first-quarter 2010, while CU mortgage originations continued to grow. •  CUs that don’t prepare now to grab mortgage market share might be missing a rare opportunity.... READ MORE