Webinar: What You Need to Know about Guarantors, Co-Signers, Personal Guarantees & Joint Applications, Including Security & Collateral Implications

Tuesday, March 5, 2013

Speaker: Elizabeth Fast, JD & CPA, Spencer Fane Britt & Browne, LLP

About the Program

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 regarding 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 welltrained 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.

HIGHLIGHTS

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?

Related Files

Printable Brochure (Adobe PDF File)