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.


More Information  Register

 

March

Cross Council Event Schedule

Date Discipline Title Type Tuition  
 
03.01.2016
CFO
 

Thomson Reuters Tools and How to Use Them

ROUNDTABLEFree to Council membersRegister
 
 
03.02.2016
LENDING
 

Loan Reaffirmations in Chapter 7 Bankruptcy webinar

WEBINAR$219, Council members get a discountMore Info
 
03.16.2016
LENDING
 

Creditors D-I-Y Guide to Bankruptcy Proofs of Claim webinar

WEBINAR$219, Council members get 10% offMore Info
 
03.24.2016
O & ME
 

From Manager to Coach: Building a Sustainable Coaching Culture

ROUNDTABLEFree for Council membersRegister
 
 
03.24.2016
HR & OD
 

From Manager to Coach: Building a Sustainable Coaching Culture

ROUNDTABLEFree for Council membersRegister
 
 
03.29.2016
LENDING
 

Lower Credit Score Auto Loans - Good for Members, Good for the Bottom Line webinar

WEBINAR$219, Council members get 10% offMore Info
 
03.30.2016
LENDING
 

Lenders, Third Party Vendors and BSA Compliance webinar

WEBINAR$219, Council members get 10% offMore Info