Tuesday, March 5, 2013
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
There is often confusion regarding the distinction between a guarantor and a co-signer, and the situations where it is permissible to require a guarantor or a co-signer on a loan. Do you understand the legal prohibitions against requiring a spouse to be a guarantor or co-signer? Are you aware of the new rules about proving that applicants applied for joint credit? The Equal Credit Opportunity Act and Regulation B are a major focus of the NCUA and the CFPB, so your credit union must be well-trained in this complicated area.
Besides reviewing the related laws and regulations, this webinar will explain the proper procedures to use when evaluating the use of a guarantor or a co-signer and when proving that applicants applied for joint credit. This webinar will also address the proper procedures to obtain a security interest in jointly-held collateral while not violating the laws and regulations. After participating in this webinar, you will be prepared to answer examiners’ questions on this topic.
Continuing Education: Attendance verification for CE credits upon request
- Differences between a guarantor and a co-signer
- Restrictions on requiring a spouse to guarantee or co-sign
- When can you require a spouse to sign a security agreement?
- How to prove that applicants applied for joint credit
- Specific provisions that should be included in guaranty and security agreements
- When is it acceptable to go against the guarantor before going against the borrower?
- TAKE-AWAY TOOLKIT
- Interagency Fair Lending Examination Procedures used by NCUA
- Examination Procedures Checklist used by the CFPB
- TAKE-AWAY TOOLKIT
WHO SHOULD ATTEND?
This informative session will benefit loan officers, loan operations personnel, credit analysts, compliance officers, auditors, attorneys, and managers.
Webinar content is subject to copyright and intended for your individual credit union’s use only.
MEET THE PRESENTER
Spencer Fane Britt & Browne LLP