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PCLender.com paper addresses mortgage lending

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HONOLULU (4/15/09)--Risky business models that led to the failure of many national commercial banks and non-depository mortgage bankers have opened up an opportunity for credit unions to gain mortgage lending market share, according to a white paper from PCLender.com. The paper is “The Future of Mortgage Lending: Why the time is right for credit unions to increase market share and how they can effectively compete in the new marketplace.” It recommends that credit unions grow their share by exploiting their core advantages. The advantages include strong relationships with members, healthy balance sheets and an abundance of expertise, according to paper author Lionel Urban, PCLender.com president. The paper also addresses case studies from Patrion Mortgage and Hawaii State FCU, Honolulu. Both have grown their market share in mortgage lending through Web-based tools.

Teres Solutions opens conference to all CUs

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AUSTIN, Texas (4/15/09)--Teres Solutions is opening up its annual user conference to all credit unions. The conference, “Shine in ’09” will be offered May 31 to June 3 in Grapevine, Texas. The conference will have two tracks: one for Teres Solutions Software Application for Integrated Lending and another open to anyone in the credit union industry. Teres develops direct and indirect lending software products for financial institutions, including credit unions. Educational tracks and industry panels will cover how credit unions can expand this year, lending best practices, compliance imperatives, auto industry trends, merchant lending, automating cross-selling and up-selling. Many sessions will feature demonstrations of new technologies, Teres said. “With the credit union share of the auto lending market jumping to 25% this year, now more than ever, credit unions need a forum where they can share ideas on how to best take advantage of this once-in-a-lifetime member and lending market grab,” said Tim Kelly, Teres CEO.