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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February

Cross Council Event Schedule

Date Discipline Title Type Tuition  
 
02.10.2016
LENDING
 

Business Loan Structuring: A Case Study webinar

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02.16.2016
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Business Balance Sheets: What a Lender Needs to Know and Ask webinar

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02.18.2016
TECH
 

NCUA Exam and Cybersecurity Self Assessment Tools

ROUNDTABLEFree for Council membersRegister
 
 
02.18.2016
LENDING
 

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02.18.2016 02.18.0206
FINANCE
 

NCUA Exam and Cybersecurity Self Assessment Tools

ROUNDTABLEFree for Council membersRegister
 
 
02.23.2016
LENDING
 

Business Profit & Loss Statements: What a Lender Needs to Know and Ask webinar

WEBINAR$219, Council members get a discountMore Info