The Point: Feb. 10, 2014
CUs can ‘make an impact’ at State GAC
Credit union advocates are invited to “make an impact” in Albany during the Credit Union Association of New York’s State Governmental Affairs Conference (GAC). The event, which will be held April 28-30, offers New York credit unionists a chance to discuss priority issues with state lawmakers and unite with other credit union advocates from across the state.
In addition to legislator visits, the agenda includes:
- general sessions with featured speakers;
- breakout education sessions;
- a special young professionals track; and
- the presentation of the state-level Louise Herring Philosophy in Action Member Service Awards, Dora Maxwell Social Responsibility Community Service Awards and Desjardins Financial Education Awards.
To learn more or register, visit the Association’s State GAC web page.
New HUD brochure required for FHA lenders
All Federal Housing Administration (FHA)-approved lenders must begin using a new Department of Housing and Urban Development (HUD) foreclosure brochure beginning today, Feb. 10. The new brochure, “Save Your House: Tips to Avoid Foreclosure,” replaces the previous document titled “How to Avoid Foreclosure.”
HUD regulations require lenders to send a cover letter with the brochure to FHA borrowers in default between the 32nd and 60th day of delinquency. In a letter released last month, the department outlined what information must be included in the cover letter. Required information includes: a request for the borrower's current financial information; the number of late payments; the total amount of any late charges incurred; the month of each late payment; the original due date of each late payment; and information about language access services offered for borrowers with limited English proficiency.
For more information, view the HUD letter.
New CUNA Membership@Work report now available
CUNA recently published its fourth quarter 2013 Membership@Work report. The report is available online and summarizes recent CUNA initiatives and efforts, including: legislative and regulatory advocacy; media outreach; CUNA Council highlights; and member communications/benefits.
Still time to register for NCUA, CFPB town hall webinar
NCUA Chairman Debbie Matz and CFPB Director Richard Cordray will host a free town hall-style webinar this Wednesday, Feb. 12, at 3 p.m. The webinar will address a broad range of regulation issues, including the CFPB’s new Ability-to-Repay/Qualified Mortgage rules (ATR/QM).
During the webinar, participants will be able to type in questions about any topic relating to the credit union industry or the work of the CFPB. Participants can also submit questions in advance by emailing firstname.lastname@example.org with the subject line “NCUA-CFPB Town Hall.”