Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (01/23/2008)
* WASHINGTON (1/24/08)--On Tuesday, Steven Preston, head of the Small Business Administration (SBA), said that loan volume for SBA’s signature loan program has decreased, and that originations dropped to 20,000 in the fourth quarter (American Banker Jan. 23). The agency is attempting to expand participation in its loan guarantee program, but Preston noted several roadblocks: slow loan turnaround times, a lack of support services for lenders, complex rules and paperwork. Because of these roadblocks, the SBA has lost 368 financial institutions the past two years--a 7% decline, Preston said. In November, the agency started a program to speed up payments of loan guarantees, but it faces challenges such as inefficient workflows and information technology systems. It could take until April or May to streamline the program, he said ... * WASHINGTON (1/24/08)--Rev. Jesse Jackson met with three Department of Housing and Urban Development (HUD) officials Tuesday after his Rainbow Push Coalition met at HUD’s offices to rally for action on the foreclosure crisis (American Banker Jan. 23). The coalition was briefed on Federal Housing Administration loans and a Hope Now alliance plan that would freeze starter interest rates on certain subprime mortgages. Meeting participants included FHA Commissioner Brian Montgomery, HUD Secretary Alphonso Jackson and Deputy Secretary Roy A. Bernardi ...


RSS





print
News Now LiveWire
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
34 minutes ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
53 minutes ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
1 hours ago
Pennies, nickels cost more to make than they are worth @usmint report http://t.co/FOT51DF8v2
1 hours ago
Strong biz lending leads 3Q loan growth at Minn. #creditunions http://t.co/DKYjyj6iC3
3 hours ago