from 95% to 85% for the following products. " Equity Choice Line of Credit " Home Equity Loan " Home Improvement Loan In addition, Bank of the West restructured the loan amount and term tiers on the Home Equity Loan product.<br><br> Bank of the West LTV Structure Changes Previous Maximum LTV Current Maximum LTV 95% 85% Choice Equity HELOC, Home Equity Loan & Home Improvement Loans HE Loan LTV & Loan Amount Structure Changes Markets: AZ, CA, CO, ID, NV, NM, OK, OR, UT, WA, & WY Previous Structure: < 80% LTV Current Structure: < 80% LTV $5,000 - $9,999 (< 180 Months) $5,000 - $500,000 (12 - 240 Months) $10,000 - $500,000 (< 120 Months) $10,000 - $500,000 (121 - 240 Months) Previous Structure: 86%-90% LTV Current Structure : 81%-85% LTV $5,000 - $9,999 (< 180 Months) $5,000 - $500,000 (< 120 Months) $10,000 - $500,000 (< 120 Months) $5,000 - $500,000 (121 - 180 Months) $10,000 - $500,000 (121 - 180 Months) $20,000 - $500,000 (181 - 240 Months) $20,000 - $500,000 (181 - 240 Months) 2 Bank of the West (cont 9d) HE Loan LTV & Loan Amount Structure Changes Markets: IA, KS, MN, MO, ND, NE, SD, & WI Previous Structure: < 80% LTV Current Structure: < 80% LTV $10,000 - $500,000 (< 60 Months) $5,000 - $500,000 (< 60 Months) $5,000 - $9,999 (< 180 Months) $5,000 - $500,000 (61 - 240 Months) $10,000 - $500,000 (< 120 Months) $10,000 - $500,000 (121 - 240 Months) Previous Structure: 86%-90% LTV Current Structure : 81%-85% LTV $5,000 - $9,999 (< 180 Months) $5,000 - $9,999 (< 60 Months) $10,000 - $500,000 (< 60 Months) $5,000 - $500,000 (< 120 Months) $10,000 - $500,000 (< 120 Months) $5,000 - $500,000 (121 - 180 Months) $10,000 - $500,000 (121 -180 Months) $20,000 - $500,000 (181 - 240 Months) $20,000 - $500,000 (181 - 240 Months) Citibank restructured the LTV and loan amount tiers on their HELOC and HEL products. HELOCs now have a 60% LTV option. In addition, loan amounts greater than $500,000 are now offered on an cexception basis d only.<br><br> Citibank HELOC LTV Structure Changes Previous LTV Offerings Current LTV Offerings < 70% < 60% 70.01 - 80% 60.01 - 70% 70.01 - 80% HEL Loan Amount Structure Changes Previous Structure Current Structure $25,000 - $59,999 (60 - 360 months) $25,000 - $59,999 (60 - 360 months) $60,000 - $500,000 (60 months) $60,000 - $500,000 (60 months) $60,000 - $500,000 (61 - 360 months) $60,000 - $500,000 (61 - 360 months) $500,001 - $1,000,000 (60 - 360 months) N/A; By Exception Only 3 Comerica Bank restructured the LTV and loan amount tiers on the Home Equity Flexline Fixed Rate Option feature product. Comerica Bank HELOC FRO LTV Structure Changes Previous LTV Offerings Current LTV Offerings < 80% < 60% 60.01% - 70% 70.01% - 80% HELOC FRO Loan Amounts Structure Changes Previous Structure Current Structure $2,500 - $49,999 $2,500 + $50,000 - $99,999 $100,000 - $199,999 $200,000 - $249,999 $250,000 - $500,000 $500,000 + 3, 5, 7, & 10 year terms are available Harris Bank 3 AZ, FL, IL, IN, WA, & WI now has balloon payment terms available up to 84 months on their Home Equity Loan and Manufactured Housing products. Harris Bank Balloon Payment Term Changes HE Loan & Manufactured Housing Products Previous Structure Minimum Term Maximum Term Balloon Term 12 Months 360 Months 60 Months 12 Months 360 Months 120 Months 12 Months 360 Months 180 Months Current Structure Minimum Term Maximum Term Balloon Term 12 Months 360 Months 84 Months 12 Months 360 Months 120 Months 12 Months 360 Months 120 Months o IL, IN, WA, & WI have a maximum LTV of 70% o AZ & FL have a maximum LTV of 60% 4 HSBC is no longer offering Home Equity Loans in first lien position.<br><br> This product is available to borrowers only in second lien position. Home Equity Lines of Credit are still available in both first and second lien position offerings. Huntington Bank restructured the LTV tiers on their Home Equity Personal Credit Line , Home Equity Loan and Mobile Home (with Land) products.<br><br> Huntington Bank HELOC, HE Loan & Mobile Home (with Land) Products LTV Structure Changes (Owner-Occupied Properties) Previous LTV Offerings Current LTV Offerings < 70% < 65% 70.01% - 85% 65.01% - 75% 85.01% - 90% 75.01% - 85% LTV Structure Changes (Non Owner-Occupied Properties Previous LTV Offerings Current LTV Offerings < 70% < 65% 70.01% - 80% 65.01% - 75% M&T Bank 3 DC, DE, MD, NY, PA, VA, & WV implemented the following changes on the CHOICEquity Line of Credit product " Adopted a Floor Rate of 3.99% " Increased repayment period from 5 years to 10 years " Increased cinterest-only d period from 5 years to 10 years " Added additional term tiers on the Fixed Rate Option feature M&T Bank CHOICEquity Product Changes Floor Rate Draw Period Repayment Period "Interest-Only" Period Previous Structure None 10 Years 15 Years 5 Years Current Structure 3.99% 10 Years 20 Years 10 Years 5 M&T Bank (cont 9d) M&T Bank CHOICEquity FRO Term Structure Changes Previous Term Offerings Current Term Offerings 3, 6, & 15 Year Terms 5, 10, 15, 20, & 25 Year Terms Regions Bank is now offering the following term options on the Home Equity Loan product: " 7-Year Term " 5-Year Balloon Term, payments may be amortized over 7, 15, or 30 years Regions Bank HE Loan: 7-Year Term Addition Available Terms Maximum LTV 12 - 84 Months < 80%* 12 - 180 Months < 80% * HE Loan: 5-Year Balloon Term Addition Balloon Term Amortization Period 60 Months 84 Months 60 Months 180 Months 60 Months 360 Months o * FL properties are limited to a maximum LTV of 75% o HE Loans are available in 2ND Lien position only Sovereign Bank is now offering terms up to 60 months on the Home Equity Loan product. The new term option is available for first and second lien position loans on owner-occupied and non-owner occupied residences. 6 Sovereign Bank (cont 9d) Sovereign Bank - CT, DE, MA, MD, NH, NJ, NY, PA, RI, & VA HE Loan: 60-Month Term Addition Maximum LTV Available Terms State Occupancy Lien Requirement Previous Structure 80% 120 Months All States Owner-Occupied 2ND Lien 80% 300 Months All States Owner-Occupied 2ND Lien Current Structure 80% 60 Months All States Owner-Occupied 2ND Lien 80% 120 Months All States Owner-Occupied 2ND Lien 80% 300 Months All States Owner-Occupied 2ND Lien Previous Structure 70% 120 Months All States Non-Owner Occupied 2ND Lien 70% 300 Months All States Non-Owner Occupied 2ND Lien Current Structure 70% 60 Months All States Non-Owner Occupied 2ND Lien 70% 120 Months All States Non-Owner Occupied 2ND Lien 70% 300 Months All States Non-Owner Occupied 2ND Lien Previous Structure 80% 120 Months All States (except NY) Owner-Occupied 1ST Lien Current Structure 80% 60 Months All States (except NY) Owner-Occupied 1ST Lien 80% 120 Months All States (except NY) Owner-Occupied 1ST Lien Previous Structure 70% 120 Months All States (except NY) Non-Owner Occupied 1ST Lien 70% 300 Months All States (except NY) Non-Owner Occupied 1ST Lien Current Structure 70% 60 Months All States (except NY) Non-Owner Occupied 1ST Lien 70% 120 Months All States (except NY) Non-Owner Occupied 1ST Lien 70% 300 Months All States (except NY) Non-Owner Occupied 1ST Lien Previous Structure 70% 120 Months NY (Co-ops Only) Owner-Occupied 1ST Lien Current Structure 70% 60 Months NY (Co-ops Only) Owner-Occupied 1ST Lien 70% 120 Months NY (Co-ops Only) Owner-Occupied 1ST Lien The maximum loan is $750K for owner-occupied properties; $100K maximum for non- owner occupied properties.<br><br> U.S. Bank reduced the HELOC Floor Rate from 3.99% to 3.25%. for a limited time only to support a promotion.<br><br> U.S. Bank HELOC Floor Rate Changes Previous Floor Current Floor 3.99% 3.25% (until further notice) 7 Online Promotions 3 Bank Offers Chase Chase is offering up to 0.50% rate discount on a new Home Equity Line of Credit. The 0.25% discount is available for Chase checking account customers and additional 0.25% discount is available for Chase Premier Platinum checking account customers and no annual fee.<br><br> A $50 annual fee applies after the first year for non- Premier Platinum customers (except TX). HELOC rates vary depending on amount and property location. A $399 origination fee applies if borrower selecting the Best Rate Line of Credit option.<br><br> Visit this website for more details: www.chase.com . Citizens Bank/Charter One 8 Citizens Bank/Charter One is offering a promotion on a Home Equity Loan and a Home Equity Line of Credit. Applicants who open a new home equity loan or line and a new credit card at the same time will receive 0.50% off the loan rates and a $50 bonus on a credit card.<br><br> The 0.50% discount offer is available for a limited time only. The $50 credit bonus offer requires at least $250 spent in purchases for the first three months. The bonus will be posted to the statement by May 31, 2010.<br><br> This offer is not available on the cCapped Rate Home Equity Line of Credit d or the Loan/Line Combo product. Visit this website for more details: www.citizensbank.com . Huntington Bank Huntington Bank is offering rates as low as Prime + 0.44% APR on a Home Equity Line of Credit.<br><br> The featured rate includes a 0.25% discount for automatic payment from a Huntington deposit account and a 0.25% discount for having a Huntington Select Checking account. A $96 annual fee applies. In addition, a $75 fee is charged to establish a fixed rate option loan.<br><br> Actual rates will be determined by the borrower 9s credit score and the LTV ratio. This offer is available for owner-occupied residences. Other APRs apply for non-owner occupied properties.<br><br> Visit this website for more details: www.huntington.com . PNC Bank 9 PNC Bank is offering rates as low as 4.49% APR on a new Auto Loan. The advertised rate is available for a 60-month term on new vehicles with a minimum loan amount of $15,000.<br><br> In addition, the rate requires automatic payment from a PNC checking account. Actual APRs may range from 4.49% to 11.74% depending on credit approval. Other APRs are available for loans with different repayment terms and conditions.<br><br> Visit this website for more details: www.pnc.com . PNC Bank is offering rates as low as 5.44% APR on a Home Equity Installment Loan. The advertised rate is available for terms up to 30 years, amounts from $50,000 to $500,000 for primary residences in first lien position.<br><br> The maximum LTV requirement is 85%. The rate also requires automatic payment from a PNC checking account. Actual APR will be based on loan amount, review of credit application and other factors.<br><br> A prepayment fee of $350 applies to loans that close within 36 months of opening. For more details visit: www.pnc.com . TCF Bank TCF Bank is featuring rates as low as Prime + 0.74% APR on a Home Equity Line of Credit.<br><br> The advertised rate reflects a maximum LTV of 80% and ACH payment from a TCF checking or savings account (in AZ and CO, the rate is as low as Prime + 1.49% APR). A $50 annual fee applies. The rate offer is available on owner occupied, 1-4 family residences and for applicants that meet credit criteria.<br><br> Visit this website for more details: www.tcfbank.com . 10 TD Bank TD Bank is offering rates as low as Prime 3 0.50% APR on a Home Equity Line of Credit. The advertised rate requires a maximum LTV ratio of 80%.<br><br> A $50 annual fee applies, including a $99 origination fee. The rate offer is available on 1-4 family primary or secondary residences, excluding mobile homes. Co-op properties have additional terms and conditions.<br><br> This offer is good through January 3, 2010. For more details visit: www.tdbank.com . U.S.<br><br> Bank U.S. Bank is offering rates as low as 3.99% APR on an Auto Loan with terms up to 36 months. Other APRs apply for different repayment terms: Automatic payment from a U.S.<br><br> Bank Five Star Banking Package is required to qualify for this rate offer. Origination fees vary by state and range from $50 to $125 or up to 1% of the loan amount. This offer is subject to credit qualifications.<br><br> For more details visit: www.usbank.com . 11 Online Promotions 3 Credit Union Offers Boeing Employees Credit Union- WA BECU is offering members a chance to win No Auto Payments for three months. To enter the sweepstakes, members must be approved for an auto loan between December 1 and December 31, 2009.<br><br> Applicants will be automatically entered in the sweepstakes during this period. Auto loan rates are as low as 4.49% APR. There is no application fee and no prepayment penalty.<br><br> Visit this website for more details: www.becu.org . Bethpage Federal Credit Union - NY Bethpage FCU is offering a Caribbean Giveaway Sweepstakes . The drawing is open to all Bethpage FCU members (18 years of age or older) who close an auto loan with Bethpage between November 15, 2009 and March 15, 2010.<br><br> The winner will be awarded a 5 night/6 day Caribbean vacation for a family of four (two adults and two children) to Breezes Resort & Spa Trelawny in Jamaica. Vacation must be taken between March 31, 2010 and March 2011. Visit this website for more information: www.bethpage.coop .<br><br> 12 Digital Federal Credit Union - MA Digital FCU is offering rates as low as 3.90% APR on new or used Auto Loans. Borrowers must put down at least 20% of the purchase price or book value at the time of purchase to qualify for this rate offer. The discount applies to auto loan rates with a term of 60 months or less.<br><br> Same rates apply for new and used vehicles. This is a limited time offer only. Qualifying factors such as credit history and account relationship will be considered.<br><br> Visit this website for more details: www.dcu.org . Lockheed Federal Credit Union 3 CA Lockheed FCU is offering their members a chance to win their first auto loan payment up to $1,000. To qualify for the cWin An Auto Loan Payment d Sweepstakes, all entrants must be at least 18 years of age and in good standing with the credit union.<br><br> Applicants must have a new or existing LFCU auto loan to cwin a payment. d Members who enter the contest but do not open an auto loan with LFCU are eligible for a prize of $250 during the sweepstakes period. Members can also enter the drawing by mailing a 3 d x 5 d card to LFCU cAuto Payment Sweepstakes. d The Sweepstakes period is from November 1, 2009 through December 31, 2009. For more details visit: www.lockheedfcu.org .<br><br> 13 Navy Federal Credit Union 3 National Navy FCU is offering rates as low as 2.99% APR for a limited time only. The promotional rate is available for new cars and trucks on terms up to 36 months. Other APRs apply for different repayment terms and for used vehicles.<br><br> Auto rates will be determined by the borrower 9s creditworthiness. Visit this website for more details: www.navyfcu.org . Randolph-Brooks Federal Credit Union - TX RBFCU is offering rates as low as 3.70% APR on an Auto Loan.<br><br> The featured rate is available for terms up to 66 months on new or used vehicles. Actual rate and term will be dependent upon credit rating, collateral value, amount financed and relationship. Visit this website for more details: www.rbfcu.org .<br><br> SchoolsFirst Federal Credit Union - CA 14 SchoolsFirst FCU is offering rates as low as 5.99% APR on a Home Equity Loan. The featured rate is for a 7-year term with a maximum LTV of 80% and a maximum loan amount of $250,000. Actual rate will be determined by other factors including the credit rating.<br><br> Visit this website for more information: www.schoolsfirstfcu.org . SchoolsFirst FCU is also offering rates as low as 2.99% APR on a new Auto Loan. The featured rate is available for terms up to 48 months and reflects a 0.75% discount for automatic payment from a SchoolsFirst FCU checking account.<br><br> Actual rate will be determined by other factors including the credit rating. For more information visit: www.schoolsfirstfcu.org . Tower Federal Credit Union - MD Tower FCU is offering rates as low as 5.25% APR (5-year term) and 5.75% APR (7-year term) on a Home Equity Loan.<br><br> There are no fees except the cost of a drive-by appraisal if needed. The maximum loan amount will vary based on term and occupancy. The rate offers are available through December 31, 2009.<br><br> Visit this website for more details: www.towerfcu.org . VyStar Credit Union 3 FL 15 VyStar CU is offering a Holiday Wrap Up Used Auto Sale through Enterprise . The Enterprise Used Auto Sale event will be held from November 30, 2009 through December 31, 2009.<br><br> In addition, borrowers can get their first two car payments free (up to $700). The free payment offer must meet criteria requiring a VyStar VIP pre-approval loan and Enterprise purchase during the month of December 2009 only. Up to 100% financing is available for creditworthy borrowers.<br><br> Other restrictions may apply. For more details visit: www.vystarcu.org . Western Federal Credit Union - CA Western FCU is offering members a 1% Pay Back Bonus on Auto Loans.<br><br> Applicants can fund any new or used vehicle or bring their existing loan to Western FCU to receive the 1% back on the principal amount funded. The 1% offer is based off total amount funded and will be returned to the borrower as a deposit to the Primary Savings Account. The minimum loan amount of $5,000 is required to receive the 1% rebate.<br><br> Auto loan rates are as low as 5.24% APR. This offer is not available on indirect loans and refinances of existing Western FCU loans. Visit this website for more details: www.western.org .<br><br> 16 In the News General News Chase November 2, 2009 Chase announced that it has successfully upgraded products and technology in four states (California, Arizona, Nevada, and Colorado) to link in the final 822 former Washington Mutual branches to the Chase computer system. The four-state conversion is the last three retail conversions to bring all former WaMu branches onto Chase 9s computer systems, under the Chase brand. Customers now have full access at any 5,126 Chase branches in 23 states and 15,038 Chase ATMs in 26 states.<br><br> Reference : http://investor.shareholder.com/JPMorganChase/press/releasedetail.cfm? ReleaseID=419533 . Chase November 2, 2009 Chase announced that it has successfully converted and rebranded 24 former Washington Mutual bank branches in Colorado, creating a network of 113 Chase branches in 35 cities and towns for consumers and businesses.<br><br> Chase now has 84 branches in Metro Denver, 15 in El Paso County Reference: http://investor.shareholder.com/JPMorganChase/press/releasedetail.cfm? ReleaseID=420879 . HSBC November 3, 2009 HSBC Bank USA, N.A has opened its latest branch in Daly City, San Mateo County, California.<br><br> With this addition, HSBC now has a total of 29 branches across California. Reference : http://www.hsbcusa.com/ourcompany/pressroom/2009/news_11032009_d aly_city_branch.html . 17 HSBC November 4, 2009 HSBC Bank USA, N.A has opened its latest branch in Mercer Island in the Greater Seattle area in Washington.<br><br> Seattle is already the site of a thriving downtown retail facility and commercial office, which first opened for business in the mid-1970 9s. Reference: http://www.hsbcusa.com/ourcompany/pressroom/2009/news_11042009_m ercer_island_branch.html . HSBC November 10, 2009 HSBC Finance Corporation announced its agreement with Santander Consumer USA Inc.<br><br> to sell HSBC US auto loan servicing operations. The auto loan servicing agreement transaction is expected to close in the first quarter of 2010. Under the terms of the sale, HSBC 9s auto loan servicing facilities in San Diego, California and Lewisville, Texas will be assigned to SC USA.<br><br> Reference: http://www.hsbcusa.com/ourcompany/pressroom/2009/news_11102009_h sbc_auto_santander_announcement.html . PNC Bank November 16, 2009 The PNC Financial Services Group, Inc. announced its conversion of 240 branches from National City to PNC Bank, with three additional conversion phases scheduled in early 2010.<br><br> The first phase included the conversion in Western Pennsylvania (primarily Pittsburgh and Erie) along with Youngstown, Ohio and the state of Florida. PNC also announced the dates and regions for the remaining phases: " February 2010 : Kentucky, Southeastern Indiana, Southern Ohio (including Cincinnati, Dayton and Columbus) " April 2010: Northern Ohio (including Cleveland, Akron and Toledo) and Michigan " June 2010: Remainder of Indiana along with Illinois, Missouri and Wisconsin TD Bank November 4, 2009 TD Bank celebrated its grand opening of their newest branch in Miami- Dade County, Florida on Saturday 21, 2009. The opening party included free food, giveaways and a cash drawing.<br><br> TD Bank currently has 31 stores throughout Southern Florida, including eight in Miami-Dade County. Reference: https://mediaroom.tdbank.com/index.php?s=43&item=210 . 18 Wells Fargo November 10, 2009 Wells Fargo & Company announced that it has expanded its Wells Fargo Cash Back Card program to give eligible customers the ability to pay down their home equity principal.<br><br> Customers can also choose to apply cash rewards automatically to their eligible Wells Fargo checking and savings account, or pay down their personal lines and loans. In addition, customers can also pay down their mortgage with the Wells Fargo Home Rebate Card. Reference: https://www.wellsfargo.com/press/2009/20091110_CashBack .<br><br> Mergers & Acquisitions U.S. Bank November 25, 2009 U.S. Bank National Association announced that is seeking buyers for the three Texas banks: Citizens National Bank of Teague , Madisonville State Bank of Madisonville and North Houston Bank of Houston , which were recently acquired from the Federal Deposit Insurance Corporation.<br><br> The three Texas banks were acquired on October 30, 2009, along with six other banks in California, Illinois and Arizona, which will remain a part of the U.S. Bank franchise. Reference: http://phx.corporate-ir.net/phoenix.zhtml?c=117565&p=irol- newsArticle&ID=1359294&highlight =.<br><br> 19 Credit Card Offers America First Credit Union (UT) America First Credit Union has announced an upgrade to their rewards options for the America First Visa Rewards Card . One reward point is earned for every dollar spent and points can be redeemed for a variety of rewards including: " Merchandise " Travel " Event Tickets " Activities " Gift Cards Members can place a personal photo on their card for free with Picture Perfect. For details visit: www.americafirst.com .<br><br> American Express American Express launched rewards points promotions for eligible charge cardmembers enrolled in their Membership Rewards program. From November 27 to November 30, triple Membership Rewards points were offered on every purchase made on Amazon.com, up to $5,000. Charge cardmembers can also enroll to earn double points on gas and grocery purchases, up to $1,000 each month, through March 15, 2010.<br><br> American Express is also offering a promotion through December 31 to their members when they shop at a selection of 25 popular online retailers, through bonuspointsmall.com, its online portal. Platinum Card members can earn six times the Membership Rewards points, and Gold and Green cardmembers can earn five times the points. For details visit: www.americanexpress.com .<br><br> Bank of America Bank of America has launched a Credit Card Clarity Commitment to provide cardholders a clear and simple explanation of their terms. The Credit Card Clarity Commitment is a one-page summary of the customers 9 rates, fees, and payment information. It was scheduled to begin mailing on December 1, and will be sent to about 40 million current cardholders.<br><br> The Credit Card Clarity Commitment will be available to new customers in 2010. For details visit: www.bankofamerica.com . 20 Chase Chase is promoting their business cards which include Ink, Ink Cash, Ink Plus, and the charge card Ink Bold .<br><br> Ink was discussed in the September edition of the Monthly Loan Product Bulletin. Features of this card include: " 0% introductory APR on purchases and balance transfers for 6 months (fee for balance transfers: 3%, minimum $5) " Earn 1 point for every dollar in net purchases " Earn 2 points for every dollar spent on eligible airfare net purchases made through the Ultimate Rewards Travel Booking Tool " Earn up to 10 bonus points per dollar spent online through the Ultimate Rewards Mall " No limits on points earned and points never expire " Free cards for employees " Ability to choose payment due dates that work with the cardholder 9s financial timelines " Blueprint features " No annual fee Standard variable APR for purchases and balance transfers is 9.24%, 12.24%, or 15.24%, depending on creditworthiness. Variable APR for cash advances is 19.24% or 23.24%.<br><br> Default APR is a variable 29.99%. Ink Cash " 0% introductory APR on purchases and balance transfers for 6 months (fee for balance transfers: 3%, minimum $5) " 3% Cash Back on eligible business purchases " Unlimited 1% Cash Back on all other purchases " Customized Credit Line " Free cards for employees " Blueprint features " No annual fee Standard variable APR for purchases and balance transfers is 10.24%, 13.24%, or 16.24% depending on creditworthiness. Variable APR for cash advances is 19.24% or 23.24%.<br><br> Default APR is a variable 29.99%. 21 Ink Plus " Up to 25,000 bonus points each year " Earn 1 point for every dollar in net purchases " Earn up to 10 bonus points per dollar spent online through the Ultimate Rewards Mall " Earn 2 points for every dollar spent on eligible airfare net purchases made through the Ultimate Rewards Travel Booking Tool " No limits on points earned and points never expire " Redeem for travel, merchandise, gift cards and cash back with Ultimate Rewards " Customized Credit Line " Free cards for employees " Automatic enrollment in Ultimate Rewards " Blueprint features " First year free; $60 annual fee thereafter Standard variable APR for purchases and balance transfers is 13.24%. Variable APR for cash advances is 19.24%.<br><br> Default APR is a variable 29.99%. Ink Bold " Charge card 3 No finance charges " No caps or expirations " Up to 47,500 bonus points each year " Earn 1 point per dollar on all purchases " Earn up to 10 bonus points per dollar spent online through the Ultimate Rewards Mall " Earn 2 points for every dollar spent on eligible airfare net purchases made through the Ultimate Rewards Travel Booking Tool " No limits on points earned and points never expire " Redeem for travel, merchandise, gift cards and cash back with Ultimate Rewards " Customized Credit Line " Free cards for employees " Automatic enrollment in Ultimate Rewards " First year free; $95 annual fee thereafter For more details on these cards visit: www.chase.com . 22 Chase Chase has announced the addition of two new credit cards to their lineup of Ink business cards for their business checking customers: Ink with Exclusive Benefits and Ink Capital with Exclusive Benefits.<br><br> Ink with Exclusive Benefits " Chase checking customers earn 20% more points 3 1.2 points for every dollar spent " 5,000 bonus points after first purchase redeemable for $50 cash back " No limits and no expiration on rewards " Redeem for millions of rewards with Ultimate Rewards " No annual fee " No monthly service fee on eligible Chase checking accounts Standard variable APR for purchases and balance transfers is 13.24%. Variable APR for cash advances is 24.24%. Default APR is a variable 29.99%.<br><br> Ink Capital with Exclusive Benefits " Chase checking customers earn a refund of their 12 th month 9s interest charges each year when they enroll in Autopay from a Chase checking account " 0% introductory APR on purchases and balance transfers for 6 months (fee for balance transfers: 4%, minimum $5) " Offers a low interest rate " No annual fee " No monthly service fee on eligible Chase checking accounts 23 Standard variable APR for purchases and balance transfers is 11.24% or 17.24% depending on creditworthiness. Variable APR for cash advances is 24.24%. Default APR is a variable 29.99%.<br><br> For details visit: www.chase.com . Chase British Airways and Chase enhanced their rewards program for the British Airways Visa Signature card. They have increased the earn rate by 25% to 1.25 BA Miles for every dollar spent and 2.5 BA Miles for every dollar spent on British Airways travel and vacation packages.<br><br> Cardmembers who spend $30,000 a year will receive a companion redemption voucher, valid for 2 years. In addition, new cardmembers will receive a bonus of up to 100,000 BA Miles: 50,000 BA Miles after the first purchase, and another 50,000 miles after spending $2,000 in the first 3 months. More BA Miles may also be earned through partners.<br><br> For details visit: www.chase.com . Discover Discover announced a new website: www.ItPaystoDiscover.com . Through this website card members can track the accumulation of their Cashback Bonus and plan how to make the most of Discover 9s 5% Cashback Bonus specials.<br><br> Visitors can also strategize how to redeem their Cashback Bonus and can share their ideas with other members. For more information visit: www.discoverfinancial.com . 24 Pentagon Federal Credit Union Pentagon Federal Credit Union (PenFed) has partnered with American Express to issue a new credit card: the PenFed Premium Travel Rewards American Express Card.<br><br> This new card, designed to appeal to existing cardholders and potential new customers, features several premium travel benefits, including: " Earn 5 points per dollar spent on airfare purchases " Earn 3 points per dollar spent on hotel and dining through December 31, 2010 " Earn 1 point per dollar spent on all other eligible purchases " Earn 20,000 bonus points when the cardholder spends over $650 within the first 3 months " Receive complimentary Priority Pass membership when the cardholder charges $15,000 annually " Promotional Balance Transfer rate of 4.99% for 24 months for online transfers and 6.99% for 24 months for transfers done by phone or in person (subject to 2.5% fee, minimum $10, maximum $100) " $50 annual fee, waived for new card members for the first year Variable APR for purchases, balance transfers (after the introductory offer), and cash advances is 13.24%. Penalty APR is 17.99%. For details visit: www.penfed.org .<br><br> Pentagon Federal Credit Union Pentagon Federal Credit Union (PenFed) is advertising their Visa Platinum Cash Rewards Card. This card features: " Earn 5% cash back on pay-at-the-pump gas purchases " Earn 2% cash back on groceries " Earn 1.25% cash back on all other purchases 25 Pentagon Federal Credit Union (Cont 9d) " Cash rewards credited monthly " Credit limits up to $50,000 " Promotional Balance Transfer rate of 4.99% for 24 months for online transfers and 6.99% for 24 months for transfers done by phone or in person (subject to 2.5% fee, minimum $10, maximum $100) " No annual fee Variable APR for purchases and balance transfers (after the introductory offer) is 13.99%. Penalty APR is 17.99%.<br><br> For more information on this card visit: www.penfed.org . U.S. Bank U.S.<br><br> Bank has announced that it is expanding its FlexPerks program to other cards it in its portfolio. Personal cards that will include this reward program include the U.S. Bank FlexPerks Travel Rewards Visa Signature, U.S.<br><br> Bank FlexPerks Select Rewards Visa, and U.S. Bank FlexPerks Cash Rewards Visa Platinum cards. This program will also be included on checking and business cards.<br><br> Cardholders with multiple accounts will be able to pool points from their accounts. Points may be redeemed for travel, cash back, merchandise, gift cards, and statement credits. For more information, visit: www.usbank.com .<br><br> Wells Fargo Wells Fargo has announced that they have enhanced their rewards program. New features include the Earn More Mall, the ability to book travel online, and improved and expanded redemption options. The Earn More Mall allows cardholders the opportunity to earn bonus points for purchases made from select online merchants and allows users to purchase gift cards.<br><br> www.wellsfargorewards.com . allows members to plan and book travel online or by phone and pay with points or a combination of points and funds from their Wells Fargo credit or debit card account. Wells Fargo has also improved their rewards site for easier navigation, improved search features, and has expanded the rewards catalog to now offer more than 1,000 reward options.<br><br> For more details visit: www.wellsfargo.com . 26 Product Trends HEL OC   L TV   Analysis 70 72 74 76 78 80 82 84 86 88 90 92 1/1/2008 4/1/2008 7/1/2008 10/1/2008 1/1/2009 4/1/2009 7/1/2009 10/1/2009 $25K $50K $100K Average HELOC LTV Offerings: $25K, $50K & $100K Loan Amounts Jan-08 Apr-08 Jul-08 Oct-08 2008 (Per QTR) $25K 89% 87% 84% 82% $50K 89% 87% 84% 82% $100K 88% 84% 80% 80% Jan-09 Apr-09 Jul-09 Oct-09 2009 (Per QTR) $25K 80% 80% 79% 79% $50K 80% 80% 79% 79% $100K 78% 78% 77% 77% The chart above looks at the average HELOC LTV offerings based on various loan amounts for institutions surveyed in Informa 9s database in 2008 and 2009 (quarterly data). The LTV requirements were lowered substantially during 2008 by over 7%.<br><br> During 2009, the average LTV for $25K and $50K loan amounts were at 79% to 89%, a 10% drop over the 22-month period. Loan amounts over $100K averaged 77%, an 11% decline over the 22-month period. Higher dollar amounts are typically offered on an exception basis only and require much stricter guidelines including lower LTV requirements and credit criteria.<br><br> 27 %   of   Institutions   with   HEL OC   Floor   Rate 0% 10% 20% 30% 40% 50% 60% 70% 80% 1/1/2008 4/1/2008 7/1/2008 10/1/2008 1/1/2009 4/1/2009 7/1/2009 10/1/2009 Percentage of Institutions with HELOC Floor Rates 2008 (Per QTR) January-08 Apr-08 Jul-08 Oct-08 32% 32% 34% 34% 2009 (Per QTR) January-09 Apr-09 Jul-09 Oct-09 41% 52% 66% 70% The chart above looks at the percentage of institutions surveyed in Informa 9s database that have adopted HELOC Floor Rates in 2008 and 2009 (quarterly data). Since the Prime Rate has remained steady at 3.25%, most lenders have put a Floor Rate into place over the 22-month period. There were only 32% of the institutions that had a Floor Rate 22 months ago.<br><br> We saw an increase in late 2008, which has steadily been on the rise since that time. As of October 1, 2009, 70% of the institutions have put a Floor Rate into place. We expect the number to increase within the next several months as more lenders revise their HELOC pricing structures.<br><br> If you have any questions regarding this report, please contact Rowena Noriega at 800-848-0218 ext. 246 28

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