Topic: Loan Modifications
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#83004 – Wisconsin Open-End Credit Payment Waiver Agreement (Rev. 10/20)
Use for: WCUL Kwik-Cash or R.E.A.P.® Open-End line-of-credit agreements when governed by Wisconsin law. It allows the credit union and borrowers to agree to waive several payments and specify when […]
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#83004 – Wisconsin Open-End Credit Payment Waiver Agreement (Rev. 10/20)
Use for: WCUL Kwik-Cash or R.E.A.P.® Open-End line-of-credit agreements when governed by Wisconsin law. It allows the credit union and borrowers to agree to waive several payments and specify when […]
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B081 WCUL Loan Modification Agreement – Interest Rate and Payment Reduction
This release applies to all Wisconsin credit unions, state and federal. It describes and provides instructions for The League’s Loan Modification Agreement – Interest Rate and Payment Reduction form (WCUL […]
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#83003 – Loan Modification Agreement – Interest Rate and Payment Reduction (Rev. 5/20)
Use for: WCUL Closed-End Simple-Interest Loans when governed by Wisconsin law. It allows the credit union and borrowers to agree to a lower interest rate on a loan, with a […]
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#83003 – Loan Modification Agreement – Interest Rate and Payment Reduction (Rev. 5/20)
Use for: WCUL Closed-End Simple-Interest Loans when governed by Wisconsin law. It allows the credit union and borrowers to agree to a lower interest rate on a loan, with a […]
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#83002 – Wisconsin Simple Interest Loan Modification Agreement (Rev. 4/20)
Use for: Modification of WCUL closed-end loan agreements where several installments are rescheduled. Repayment options include: Monthly payments in the original amount, with extension of the final payment due date. […]
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#83002 – Wisconsin Simple Interest Loan Modification Agreement (Rev. 4/20)
Use for: Modification of WCUL closed-end loan agreements where several installments are rescheduled. Repayment options include: Monthly payments in the original amount, with extension of the final payment due date. […]
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NCUA: Supervisory Letter – Evaluating Residential Real Estate Mortgage Loan Modification Programs (September 2009) 11 pp.
NCUA encourages credit unions to work constructively with residential mortgage borrowers who may be unable to meet their contractual payment obligations. In this supervisory letter the NCUA says that examiners […]
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FFIEC: Uniform Retail Credit Classification and Account Management Policy (65 FR 36903 June 12, 2000)
A credit union’s written loan workout policy must establish sound controls to ensure loan workout actions are appropriately structured. The NCUA suggests that in developing the written policy, the credit […]
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DFI: Wisconsin Consumer Act – Deferral Fees in Simple Interest Transactions (7/08/1998) Interpretive Opinions Issued by DFI
Deferral Charges – When a creditor agrees to allow a borrower to skip a payment the creditor may or may not be able to assess a deferral charge depending on […]