Lending

Welcome to the Housing Trough

April 27, 2009
Mike Schenk After hitting bottom, real estate shows signs of turnaround. Did you hear that “thud”? I’m pretty sure it was the housing market hitting bottom. Actually, hitting bottom will be a process rather than an event. But recent real estate news is much more positive: Housing affordability is very... READ MORE

Skittish Lawyers Net Reaffirmation Woes

April 27, 2009
Michael McLain Some attorneys balk due to concerns about liability or clients’ ability to pay. Ease the anxieties of debtors’ attorneys, and your reaffirmation agreements are more likely to stick. Ordinarily, when a debtor’s attorney participates in reaffirmation agreement negotiations during a Chapter 7 bankruptcy, the reaffirmation must contain a... READ MORE

Rev Up Auto Lending

April 27, 2009
Sharyn Alden CUs accelerate back-to-basics approaches to boost auto loan programs. How do you encourage auto loans during a down economy? While no one formula fits all situations, CEOs agree: You must approach auto lending differently. You must work smarter to attract members who may be interested in, and qualify... READ MORE

Beat the Repo Blues

April 24, 2009
Mary Mink Underwriting changes and loan workouts avert some vehicle repossessions. But when CUs must take back vehicles, remarketing recoups some losses. With unemployment at record levels and property values down, credit union members across the country every day face the unthinkable choice between a car to drive or a... READ MORE

Let's Get Down To Business

March 30, 2009
Mike Schenk CUs could lend an additional $10 billion to the nation’s small businesses. Small businesses are noticing the credit union difference. While other lenders have tightened or curtailed business lending, credit unions have increased it. Federal Deposit Insurance Corp. statistics show banking industry business loans increased only 8% in... READ MORE

Unforeseen Consequences Of Black Swans

March 30, 2009
Bill Klewin It’s time to rethink all your old lending assumptions. In my April 2008 column, I wrote about black swans. To refresh your memory, a black swan is a highly improbable event with three principal characteristics: 1) It’s unpredictable; 2) it carries a massive impact; and 3) after the... READ MORE

What Next for Card Fraud?

March 27, 2009
Dianne Molvig The cat-and-mouse game of card fraud has CUs and vendors scrambling. Fortunately, CUs can take steps to reduce fraud risk. In August 2008, the Justice Department indicted 11 people for allegedly stealing millions of consumers’ credit and debit card information from TJX, BJ’s Wholesale Club, OfficeMax, Boston Market,... READ MORE

New Card Rules Spark Review

February 20, 2009
Michael McLain NCUA changes prohibit certain credit card practices for FCUs. The National Credit Union Administration (NCUA), Office of Thrift Supervision, and Federal Reserve Board issued final rules in December 2008 to better protect credit card users. The rules prohibit certain unfair and deceptive acts or practices, and improve consumer... READ MORE

Want to Help Members? Take a 'Clean Sheet' Approach

February 20, 2009
By Bill Vogeney The economic conditions credit unions are experiencing today are unprecedented. Unemployment is climbing. Interest rates are falling. Home values and construction starts are declining. Weak sales threaten every auto manufacturer in the world. This being the case, why would you think the same old approach to managing... READ MORE

Lender Liability Lawsuits on the Rise

February 20, 2009
By John Wallace Have you recently repossessed or foreclosed on any collateral? Have your delinquencies increased during the past 12 to 18 months? If so, these are signs your lender liability exposure has increased. Given today’s increasing foreclosures, repossessions and collections, lender liability lawsuits likely will continue to rise. In... READ MORE
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