))
Capitalization of Unpaid Interest: A Letter to Credit Unions
Manage episode 408918305 series 3543943
Contenuto fornito da Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc.. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Credit Union Exam Solutions by Mark Treichel and Credit Union Exam Solutions Inc. o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Connect with us on LinkedIn.
https://www.linkedin.com/in/mark-treichel/
Understanding NCUA's Capitalization of Unpaid Interest Regulation
This episode of Samantha Shares delves into the NCUA's letter to credit unions (23CU07), detailing the Capitalization of Unpaid Interest. It explains the unanimous vote by the NCUA Board on June 24, 2021, to allow interest capitalization in loan workouts and modifications, effective from July 30, 2021. The regulation aims to help borrowers facing financial hardships by offering various modification options like lowering payments, extending maturity dates, and capitalizing interest, ensuring these modifications are conducted under safe and sound lending practices. It emphasizes consumer protection, adherence to documentation requirements, and considerations for credit risk. The podcast also covers Q&A on loan modification policies, determining borrower's repayment ability, required disclosures, and acceptable methods for interest capitalization. Sponsored by Credit Union Exam Solutions Inc.,
00:00 Welcome to Samantha Shares: NCUA Letter Overview
00:17 Sponsor Shoutout and Additional Resources
00:46 Diving Into the NCUA Letter: Capitalization of Unpaid Interest
02:23 Consumer Protection and Credit Risk Considerations
04:05 Q&A: Understanding Loan Modification Policies
07:30 Concluding Remarks and Contact Information
25 episodi
Condividi
