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Monday, April 21, 2014
Loan Demand Picks Up, Fed Survey Finds
WASHINGTON — Demand for loans by consumers and businesses grew in the first quarter, according to a Federal Reserve report released Wednesday.
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Credit unions approved a slightly higher percentage of small business loans last month, as approval rates ticked up to 43.6% in March from 43.3% the previous month. more »
Graduate school financing with high balances are driving the overall growth of the nation's student-loan debt. more »
The payday loan business — loathed by some, misunderstood in others' eyes — stands on the verge of its biggest shake-up ever. more »
CHICAGO — It took five years, but consumers finally are making their mortgage payments before credit card payments, according to recent analysis from TransUnion. more »
Though the "Great Recession" may be over, its shadow haunts thousands of consumers whose credit scores took a hit due to job loss, missed payments or even a strategic default. more »
LAS VEGAS — Even in this beaten-down housing market some home owners actually have equity, meaning home equity loans — a lending category that largely was forgotten in the aftermath of the housing crisis — are coming back. more »
With mortgage interest rates hovering above historic lows and competition fierce, home lenders are scratching and clawing for every loan they can close. more »
KNOXVILLE, Tenn. — Making loans to startups is a risky business. But one credit union has introduced a new micro-loan program that it says leverages technology — and a small group of businesspeople — to increase the chance the new enterprise will succeed. more »
ONTARIO, Calif. — To help credit unions build their auto-lending portfolios in an increasingly competitive marketplace, CU Direct has formed the North American Automotive Marketing Council. more »
The home, the road and credit card rewards are some key areas CUs are zeroing in on as spring approaches. more »
After a winter of extreme weather in the Midwest, $2.4 billion Veridian Credit Union has set aside $3 million to offer disaster assistance loans to members who suffered property damage or other hardships. more »
WEST JORDAN, Utah — In what is being billed as an industry first, Mountain America Credit Union closed its first electronically signed FHA mortgages Monday under the Federal Housing Administration's new e-sign policy. more »
Senate Banking Committee leaders released their highly anticipated legislation to overhaul the mortgage finance market Sunday afternoon, after announcing they had reached agreement on a plan last week. more »
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