Webinar Event

Use of Loan Guaranties Instead of Co-Signers

06.25.2015 - 11.25.2015 (lending)

Jun. 25, 2015 11:00 a.m. - Noon CT

Loan Guaranties Instead of Co-Signers: When is it better to backstop a borrower instead of co-signing with the borrower? Some credit unions are reluctant to see non-spousal co-signers on open-ended loans instead of closed-end products, because it means the co-signer remains liable long after the initial (maximum) disbursement has occurred. Instead, they try to steer the borrowers into closed-end products. Even if the loans have the same Annual Percentage Rates, it looks like unequal credit opportunities based on marital status, to zealous CFPB examiners.

The answer is not to seek a co-signer, nor is it to discourage open-ended borrowing, it’s to get a guaranty agreement signed. That agreement can be delimited in scope, term, extent, remedies or any other ways the parties can agree. In fact, at least one state requires such limits, to make any guaranty valid and enforceable. As a credit union attorney with deep insights into this topic, Frank Drake will furnish suggestions, forms, methods and practices that should avert the unwelcome gaze of skeptical regulators.


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September

Cross Council Event Schedule

Date Discipline Title Type Tuition  
 
09.01.2015
LENDING
 

TCPA - Robocalls, Texts & the new FCC Ruling

WEBINAR$219, Council members get $50 discountRegister
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09.09.2015
LENDING
 

New Restrictions on Second-Lien Stripping in Bankruptcy

WEBINAR$219, Council members get $50 discountRegister
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09.22.2015
HR & OD
 

2015 HR Council Excellence Award Winners

ROUNDTABLEFree for Council MembersRegister
 
 
09.24.2015
LENDING
 

SBA 504 Loans (Series Part 4)

ROUNDTABLEFree for Council MembersRegister
 
 
09.27.2015 09.30.2015
O & ME
 

CUNA Operations, Sales & Service Council Conference

CONFERENCEEarly bird $845 member/ $995 non-memberRegister
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09.27.2015 09.30.2015
TECH
 

CUNA Technology Council Conference

CONFERENCE$845 member/$1095 otherRegister
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09.28.2015 10.01.2015
LENDING
 

CUNA Collections & Bankruptcy School

SCHOOL$1,495 ($1,695 after July 27, 2015) $100 discount for Council MembersRegister
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